Accession Number : AD0648000

Title :   MULTICHAIN MARKOV RENEWAL PROGRAMS,

Corporate Author : RAND CORP SANTA MONICA CALIF

Personal Author(s) : Denardo,E. V. ; Fox,B. L.

Report Date : FEB 1967

Pagination or Media Count : 39

Abstract : Two methods are presented for computing optimal decision sequences and their cost functions. The first method, called 'policy iteration,' is an adaption of an iterative scheme that is widely used for sequential decision problems. The second method is to specify a linear programming problem whose solution determines an optimal policy and its cost function. A third solution technique is shown to apply to certain, but not all, of these Markov renewal programs. As a byproduct of the development, new techniques are provided for solving a broad class of shortest-route problems. (Author)

Descriptors :   (*DYNAMIC PROGRAMMING, *STATISTICAL PROCESSES), (*LINEAR PROGRAMMING, STATISTICAL PROCESSES), OPTIMIZATION, DECISION THEORY, INVENTORY ANALYSIS, MEASURE THEORY, MATRICES(MATHEMATICS), ITERATIONS

Subject Categories : Operations Research

Distribution Statement : APPROVED FOR PUBLIC RELEASE