We consider discounted Markov decision processes (MDPs) with countably-infinite state spaces, finite action spaces, and unbounded rewards. Typical examples of such MDPs are inventory management and ...

Constrained network models describe a wide variety of real-world applications ranging from production, inventory, and distribution problems to financial applications. These problems can be solved with ...

This is a preview. Log in through your library . Abstract We prove that the classic policy-iteration method [Howard, R. A. 1960. Dynamic Programming and Markov Processes. MIT, Cambridge] and the ...

The leading approach to the simplex method, a widely used technique for balancing complex logistical constraints, can’t get any better. In 1939, upon arriving late to his statistics course at the ...