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- W4226170230 abstract "We consider a control problem for a heterogeneous population composed of customers able to switch at any time between different contracts, depending not only on the tariff conditions but also on the characteristics of each individual. A provider aims to maximize an average gain per time unit, supposing that the population is of infinite size. This leads to an ergodic control problem for a mean-field MDP in which the state space is a product of simplices, and the population evolves according to a controlled linear dynamics. By exploiting contraction properties of the dynamics in Hilbert’s projective metric, we show that the ergodic eigenproblem admits a solution. This allows us to obtain optimal strategies, and to quantify the gap between steady-state strategies and optimal ones. We illustrate this approach on examples from electricity pricing, and show in particular that the optimal policies may be cyclic –alternating between discount and profit taking stages." @default.
- W4226170230 created "2022-05-05" @default.
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- W4226170230 date "2022-12-06" @default.
- W4226170230 modified "2023-09-30" @default.
- W4226170230 title "Ergodic control of a heterogeneous population and application to electricity pricing" @default.
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- W4226170230 doi "https://doi.org/10.1109/cdc51059.2022.9992336" @default.
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