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Accuracy of fluid approximations to controlled birth-and-death processes: absorbing case

We consider the fluid model of a controlled birth-and-death process with an absorbing state. Instead of analyzing the trajectories, we investigate the performance functionals of the underlying process by considering algebraic equations of the dynamic programming type. We provide the accuracy of such fluid approximations and give illustrative examples. Copyright Springer-Verlag 2011
Year of publication:
2011
Authors: Piunovskiy, Alexey ; Zhang, Yi
Published in:
Mathematical Methods of Operations Research. - Springer. - Vol. 73.2011, 2, p. 159-187
Publisher: Springer
Subject: Birth-and-death process | Continuous-time Markov chain | Fluid model | Optimal control | Queueing system | Dynamic programming
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Type of publication: Article
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Persistent link: https://www.econbiz.de/10010950276
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