Dynamic Programming, Queueing Optimization, and Their Applications.
Interim progress rept. 1 May 72-30 Apr 73,
CALIFORNIA UNIV LOS ANGELES WESTERN MANAGEMENT SCIENCE INST
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The areas of research include the theoretical development of semi-Markov decision processes SMDP. In particular, an optimal stationary policy, determined by the usual functional equation, was found in both the discounted and average cost case, when the system described by the SMDP is a queueing reward system with infinite queue capacity. A dynamic queueing optimization problem has been solved in which the decision-maker controls the arrival process by increasing or decreasing the price charged for a facilitys service. A new technique in the optimization of exponential queueing systems was developed. An Air Force transportation inventory model concerning the logistics of spare items was developed using a dynamic programming decision rule. Research was also completed in the areas of optimal consumption with a stochastic income stream and optimal reinsurance. Modified author abstract
- Operations Research