Myopic Solutions of Homogeneous Sequential Decision Processes

An optimum of a Markov decision process (MDP) is said to be myopic if it can be specified by solving a series of static problems. We identify new classes of MDPs with myopic optima and sequential games with myopic equilibrium points. In one of the classes the single-period reward is homogeneous with respect to the state variable. We illustrate the results with models of revenue management and investment

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Year of publication:	[2007]
Authors:	Sobel, Matthew J.
Other Persons:	Wei, Wei (contributor)
Publisher:	[2007]: [S.l.] : SSRN

Extent:	1 Online-Ressource (21 p)
Series:	Case Western Reserve University, Department of Operations Working Paper ; No. TM-810
Type of publication:	Book / Working Paper
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments June 23, 2006 erstellt
Other identifiers:	10.2139/ssrn.911577 [DOI]
Classification:	C61 - Optimization Techniques; Programming Models; Dynamic Analysis ; C63 - Computational Techniques ; C73 - Stochastic and Dynamic Games
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10012731656