A Markovian Decision Process

19572,370 citationsJournal Article

Authors

Abstract

Abstract : The purpose of this paper is to discuss the asymptotic behavior of the sequence (f sub n(i)) generated by a nonlinear recurrence relation. This problem arises in connection with an equipment replacement problem, cf. S. Dreyfus, A Note on an Industrial Replacement Process.

Topics & Keywords

Stochastic processes and statistical mechanics Probability and Risk Models Markov Chains and Monte Carlo Methods

UN Sustainable Development Goals

Peace, Justice and strong institutions

Publication Details

Published in: Indiana University Mathematics Journal

Volume 6, Issue 4, pp. 679-684

DOI: 10.1512/iumj.1957.6.56038

Field-Weighted Citation Impact: 1.52