How is the structure of the Markov chain and the reward function?
Unfortunately I don't know.
The risk factor can be taken into account by means of the probability that the process enters (bsorbing ) failure state or via the sitting time in "dangerous" states.
I.Gertsbakh
please see the article attached.
www-bcf.usc.edu/~rahuljai/Downloads/BorkarJain10cdc.pdf
by V Borkar - Cited by 9 - Related articles
ttps://smartech.gatech.edu/.../pratikakis_nikolaos_e_200812_phd.pdf?...1
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