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Technical Note—The Method of Successive Approximations and Markovian Decision Problems

Author

Listed:
  • Arie Hordijk

    (Mathematisch Centrum, Amsterdam, The Netherlands)

  • Henk Tijms

    (Mathematisch Centrum, Amsterdam, The Netherlands)

Abstract

This note considers Howard's discrete-time Markovian decision model with the average return as criterion. Using results of Blackwell and MacQueen for the discounted return model it is shown in all generality that the Odoni bounds contain both the maximal average return and the average return of the current policy.

Suggested Citation

  • Arie Hordijk & Henk Tijms, 1974. "Technical Note—The Method of Successive Approximations and Markovian Decision Problems," Operations Research, INFORMS, vol. 22(3), pages 519-521, June.
    • Handle: RePEc:inm:oropre:v:22:y:1974:i:3:p:519-521
    DOI: 10.1287/opre.22.3.519
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