Average cost semi-markov decision processes

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Abstract
The semi-Markov decision model is considered under the criterion of long-run average cost. A new criterion, which for any policy considers the limit of the expected cost incurred during the first n transitions divided by the expected length of the first n transitions, is considered. Conditions guaranteeing that an optimal stationary (non-randomized) policy exist are then presented. It is also shown that the above criterion is equivalent to the usual one under certain conditions.

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