Accession Number : AD0663406
Title : AN OPTIMALITY CONDITION FOR DISCRETE DYNAMIC PROGRAMMING WITH NO DISCOUNTING,
Corporate Author : RAND CORP SANTA MONICA CALIF
Personal Author(s) : Denardo,E. V. ; Miller,B. L.
Report Date : DEC 1967
Pagination or Media Count : 20
Abstract : The report presents a discussion of undiscounted problems having infinite planning horizons. The study develops an optimality condition for the discrete time, finite stage Markov decision problem with Veinott's criterion of maximizing the Cesaro mean of the vector returns in a finite horizon as the horizon tends to infinity. Veinott's conjecture that there are optimal stationary policies is also verified.
Descriptors : (*DYNAMIC PROGRAMMING, OPTIMIZATION), MATHEMATICAL MODELS, DECISION THEORY, STOCHASTIC PROCESSES, PROBLEM SOLVING, THEOREMS
Subject Categories : Operations Research
Distribution Statement : APPROVED FOR PUBLIC RELEASE