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- W2783179215 abstract "Many stochastic systems in various applications are large and complex. It is difficult to find closed-form optimal control policies. In this paper, a representative of such systems is considered, namely, an optimal stopping problem driven by a finite state Markov chain. Although the state space is finite, it is large containing many elements resulting in computational complexity. To overcome the difficulty, we divide the states into a number of groups so that the chain jumps frequently within each group and jumps over to other groups only occasionally. Based on this model, we use a singular perturbation approach to reduce the overall dimensionality and design near-optimal strategies for the original problem. Examples will be provided to illustrate the results." @default.
- W2783179215 created "2018-01-26" @default.
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- W2783179215 date "2017-12-01" @default.
- W2783179215 modified "2023-09-23" @default.
- W2783179215 title "Near-optimal stopping rules for two-time-scale Markovian systems" @default.
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- W2783179215 doi "https://doi.org/10.1109/cdc.2017.8263729" @default.
- W2783179215 hasPublicationYear "2017" @default.
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