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Persistent link: https://www.econbiz.de/10009727685
We consider partially observed Markov decision processes with control limits. We analytically show how the finite-horizon control limits are non-monotonic in (a) the time remaining and (b) the probability of obtaining a conforming unit. We also prove that the infinite-horizon control limit can...
Persistent link: https://www.econbiz.de/10013058749