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Markov decision processes : implementation aspects

  • J. Wessels

Research output: Book/Report › Report › Academic

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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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  • 339167Final published version, 4 MB

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    • 1 Conference contribution

    • Markov decision processes : implementation aspects (Abstract)

      Wessels, J., 1981, DGOR: Papers of the Annual Meeting/Vorträge der Jahrestagung. Fandel, G., Fischer, D., Pfohl, H. C., Schuster, K. P. & Schwarze, J. (eds.). Berlin: Springer, p. 491-491 1 p. (Operations Research Proceedings (ORP); vol. 1980).

      Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › Academic › peer-review

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