Markov decision processes : implementation aspects

J. Wessels

Markov decision processes : implementation aspects

J. Wessels

Stochastic Operations Research

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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.

Originele taal-2	Engels
Plaats van productie	Eindhoven
Uitgeverij	Technische Hogeschool Eindhoven
Aantal pagina's	12
Status	Gepubliceerd - 1980

Publicatie series

Naam	Memorandum COSOR
Volume	8014
ISSN van geprinte versie	0926-4493

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339167Definitieve gepubliceerde versie, 4 MB

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. (reds.). Berlin: Springer, blz. 491-491 1 blz. (Operations Research Proceedings (ORP); vol. 1980).
Onderzoeksoutput: Hoofdstuk in Boek/Rapport/Congresprocedure › Conferentiebijdrage › Academic › peer review

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Markov decision processes : implementation aspects

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Markov decision processes : implementation aspects (Abstract)

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