Markov decision processes : implementation aspects

J. Wessels

Research output: Book/ReportReportAcademic

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Abstract

In this paper some aspects are treated of the implementation of Markov decision models. As illustration a cash control problem of a bank is used. It is emphasized that optimality is not decisive when choosing a strategy : by the optimization procedure one may find good strategies and these help to construct and evaluate other strategies. Also the organizational aspect of implementation (centralized or decentralized decision making ) is discussed. It is demonstrated that, even without formal implementation, the construction of a Markov decision model can be very useful.
Original languageEnglish
Place of PublicationEindhoven
PublisherTechnische Hogeschool Eindhoven
Number of pages12
Publication statusPublished - 1980

Publication series

NameMemorandum COSOR
Volume8014
ISSN (Print)0926-4493

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