How is a discrete-time bivariate Markov chain applied in handling or solving a Markov decision process problem?

12 May 2015 1 816 Report

Knowing two parameters that are Markovian eg. demand and price,, I want to establish optimal ordering policies for handling inventories using Markov decision process in Model formulation.

Boris Miller

Dear Kizito

try the articles of following authors which use continuous time Markov chains in applied problems:

1) Alexander Miller - congestion avoidance and access control in telecommunications;

2) Daniel McInnes - dams' management;

3) Konstantin Siemenikhin - control of Markov chains with constrantes

Best wishes. Prof Boris Miller

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