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Markov ratio decision processes

  • V. Aggarwal
  • R. Chandrasekaran
  • K. P. K. Nair
Contributed Papers

Abstract

A finite-state Markov decision process, in which, associated with each action in each state, there are two rewards, is considered. The objective is to optimize the ratio of the two rewards over an infinite horizon. In the discounted version of this decision problem, it is shown that the optimal value is unique and the optimal strategy is pure and stationary; however, they are dependent on the starting state. Also, a finite algorithm for computing the solution is given.

Key Words

Markov decision processes ratio rewards discounting optimal solutions algorithms 

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References

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Copyright information

© Plenum Publishing Corporation 1977

Authors and Affiliations

  • V. Aggarwal
    • 1
  • R. Chandrasekaran
    • 2
  • K. P. K. Nair
    • 1
  1. 1.School of AdministrationUniversity of New BrunswickFrederictonCanada
  2. 2.School of ManagementUniversity of Texas at DallasDallas

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