Sufficient optimality conditions for control-limit policy in a semi-Markov process
- 1 June 1976
- journal article
- Published by Cambridge University Press (CUP) in Journal of Applied Probability
- Vol. 13 (2) , 400-406
- https://doi.org/10.2307/3212848
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 stateEitoimmediately after a transition has occurred. Conditions are given which guarantee that the optimal stationary Markovian policy belongs to a subclass of control-limit policies.Keywords
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