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Average cost semi-markov decision processes

Published online by Cambridge University Press:  14 July 2016

Sheldon M. Ross
Sheldon M. Ross*
Affiliation:
University of California, Berkeley
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Abstract

The semi-Markov decision model is considered under the criterion of long-run average cost. A new criterion, which for any policy considers the limit of the expected cost incurred during the first n transitions divided by the expected length of the first n transitions, is considered. Conditions guaranteeing that an optimal stationary (non-randomized) policy exist are then presented. It is also shown that the above criterion is equivalent to the usual one under certain conditions.

Type
Research Papers
Information
Journal of Applied Probability , Volume 7 , Issue 3 , December 1970 , pp. 649 - 656
Copyright
Copyright © Applied Probability Trust 1970 

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References

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