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• W2107037985 abstract "This paper establishes the existence of a solution to the optimality equations in undis-counted semi-Markov decision models with countable state space, under conditions generalizing the hitherto obtained results. In particular, we merely require the existence of a finite set of states in which every pair of states can reach each other via some stationary policy, instead of the traditional and restrictive assumption that every stationary policy has a single irreducible set of states. A replacement model and an inventory model illustrate why this extension is essential. Our approach differs fundamentally from classical approaches; we convert the optimality equations into a form suitable for the application of a fixed point theorem." @default.
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• W2107037985 date "1983-05-01" @default.
• W2107037985 modified "2023-09-23" @default.
• W2107037985 title "Denumerable Undiscounted Semi-Markov Decision Processes with Unbounded Rewards" @default.
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• W2107037985 doi "https://doi.org/10.1287/moor.8.2.298" @default.
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