We computationally assess policies for the elevator control problem by a new column-generation approach for the linear programming method for discounted infinite-horizon Markov decision problems. By analyzing the optimality of given actions in given states, we were able to provably improve the...

Many perishables such as fresh food and blood platelet concentrates are characterized by a short maximum shelf life. As demand is often highly uncertain the outdating and shortages figures can be very high, especially when frequent replenishment is not possible or inefficient due to fixed...

We investigate the problem of minimizing the Average-Value-at-Risk (AVaR <Subscript> τ </Subscript>) of the discounted cost over a finite and an infinite horizon which is generated by a Markov Decision Process (MDP). We show that this problem can be reduced to an ordinary MDP with extended state space and give...</subscript>

We investigate the problem of minimizing the Average-Value-at-Risk (AVaR τ ) of the discounted cost over a finite and an infinite horizon which is generated by a Markov Decision Process (MDP). We show that this problem can be reduced to an ordinary MDP with extended state space and give...