IDEAS home Printed from https://ideas.repec.org/a/inm/oropre/v13y1965i6p920-929.html
   My bibliography  Save this article

Discounted Markov Programming in a Periodic Process

Author

Listed:
  • Jens Ove Riis

    (Danmarks Tekniske Højskole, Copenhagen, Denmark)

Abstract

This paper deals with a nonstationary discrete-time Markov process whose transition probabilities vary periodically in time. Each transition results in a reward that varies within the same cycle as the transition matrix. For infinite processes a policy-iteration algorithm is developed that effectively determines an optimal policy maximizing the total discounted reward. The paper represents an extension of R. A. Howard's policy-iteration technique for stationary Markov processes. A numerical example is given in which the developed iteration algorithm is demonstrated.

Suggested Citation

  • Jens Ove Riis, 1965. "Discounted Markov Programming in a Periodic Process," Operations Research, INFORMS, vol. 13(6), pages 920-929, December.
    • Handle: RePEc:inm:oropre:v:13:y:1965:i:6:p:920-929
    DOI: 10.1287/opre.13.6.920
    as

    Download full text from publisher

    File URL: http://dx.doi.org/10.1287/opre.13.6.920
    Download Restriction: no
    File URL: https://libkey.io/10.1287/opre.13.6.920?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Sun, Bo & Sun, Xu & Tsang, Danny H.K. & Whitt, Ward, 2019. "Optimal battery purchasing and charging strategy at electric vehicle battery swap stations," European Journal of Operational Research, Elsevier, vol. 279(2), pages 524-539.
    2. Horowitz, Uri, 1974. "A dynamic model integrating demand and supply relationships for agricultural water, applied to determining optimal intertemporal allocation of water in a regional water project," ISU General Staff Papers 197401010800006990, Iowa State University, Department of Economics.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:inm:oropre:v:13:y:1965:i:6:p:920-929. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Asher (email available below). General contact details of provider: https://edirc.repec.org/data/inforea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.