Control limits for two-state partially observable Markov decision processes |
| |
Authors: | Abraham Grosfeld-Nir |
| |
Institution: | Academic College of Tel-Aviv-Yaffo, School of Business, 29 Melchet, Tel-Aviv 61560, Israel |
| |
Abstract: | A production process can be in either a GOOD or a BAD state. The true state is unknown and can only be inferred from observations. If the state is good during one period it may deteriorate and become bad during the next period. Two actions are available: CONTINUE or REPLACE (for a fixed cost). The objective is to maximize the expected discounted value of the total future profits. |
| |
Keywords: | POMDP Control limit Bayes&rsquo formula |
本文献已被 ScienceDirect 等数据库收录! |