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Sufficient optimality conditions for control-limit policy in a semi-Markov process
Published online by Cambridge University Press: 14 July 2016
Abstract
A finite-state semi-Markov process (SMP) with penalties is considered. A property which is similar to an increasing-hazard-rate property for a Markov chain is defined for an SMP. The SMP is controlled by shifts from the state Ei to immediately after a transition has occurred. Conditions are given which guarantee that the optimal stationary Markovian policy belongs to a subclass of control-limit policies.
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- Copyright © Applied Probability Trust 1976
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