Application of Average Dynamic Programming to Inventory Systems

We show the existence of average cost (AC-) optimal policy for an inventory system with uncountable state space; in fact, the AC-optimal cost and an AC-optimal stationary policy are explicitly computed. In order to do this, we use a variant of the vanishing discount factor approach, which has been intensively studied in recent years, but the available results [do] not cover the inventory problem we are interested in

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Year of publication:	1998
Authors:	Vega-Amaya, Oscar ; Montes-de-Oca, Raúl
Publisher:	[S.l.] : SSRN
Subject:	Dynamische Optimierung \| Dynamic programming \| Theorie \| Theory \| Lagerhaltungsmodell \| Inventory model \| Kosten \| Costs
Description of contents:	Abstract [papers.ssrn.com]

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Extent:	1 Online-Ressource
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: Mathematical Methods of Operations Research, Vol. 47, No. 3, July 29, 1998 Volltext nicht verfügbar
Classification:	L11 - Production, Pricing, and Market Structure Size; Size Distribution of Firms
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014215883