Advances in Mechanics and Mathematics

Markov Decision Processes with Their Applications

Authors: Hu, Qiying, Yue, Wuyi

  • Presents new branches for Markov Decision Processes (MDP)
  • Applies new methodology for MDPs
  • Offers new applications of MDPs
  • Shows the validity of the optimality equation and its properties from the definition of the model by reducing the scale of MDP models based on action reduction and state decomposition
  • Presents two new optimal control problems for discrete event systems
  • Examines two optimal replacement problems in stochastic environments
  • Studies continuous time MDPs and semi-Markov decision processes in a semi-Markov environment
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eBook $149.00
price for USA (gross)
  • ISBN 978-0-387-36951-8
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $189.00
price for USA
  • ISBN 978-0-387-36950-1
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $189.00
price for USA
valid through November 5, 2017
  • ISBN 978-1-4419-4238-8
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
About this book

Markov decision processes (MDPs), also called stochastic dynamic programming, were first studied in the 1960s. MDPs can be used to model and solve dynamic decision-making problems that are multi-period and occur in stochastic circumstances. There are three basic branches in MDPs: discrete-time MDPs, continuous-time MDPs and semi-Markov decision processes. Starting from these three branches, many generalized MDPs models have been applied to various practical problems. These models include partially observable MDPs, adaptive MDPs, MDPs in stochastic environments, and MDPs with multiple objectives, constraints or imprecise parameters.

Markov Decision Processes With Their Applications examines MDPs and their applications in the optimal control of discrete event systems (DESs), optimal replacement, and optimal allocations in sequential online auctions. The book presents four main topics that are used to study optimal control problems:

*a new methodology for MDPs with discounted total reward criterion;

*transformation of continuous-time MDPs and semi-Markov decision processes into a discrete-time MDPs model, thereby simplifying the application of MDPs;

*MDPs in stochastic environments, which greatly extends the area where MDPs can be applied;

*applications of MDPs in optimal control of discrete event systems, optimal replacement, and optimal allocation in sequential online auctions.

This book is intended for researchers, mathematicians, advanced graduate students, and engineers who are interested in optimal control, operation research, communications, manufacturing, economics, and electronic commerce.

Reviews

From the reviews:

"Markov decision processes (MDPs) are one of the most comprehensively investigated branches in mathematics. … Very beneficial also are the notes and references at the end of each chapter. … we can recommend the book … for readers who are familiar with Markov decision theory and who are interested in a new approach to modelling, investigating and solving complex stochastic dynamic decision problems." (Peter Köchel, Mathematical Reviews, Issue 2009 c)


Table of contents (10 chapters)

Buy this book

eBook $149.00
price for USA (gross)
  • ISBN 978-0-387-36951-8
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $189.00
price for USA
  • ISBN 978-0-387-36950-1
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $189.00
price for USA
valid through November 5, 2017
  • ISBN 978-1-4419-4238-8
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Markov Decision Processes with Their Applications
Authors
Series Title
Advances in Mechanics and Mathematics
Series Volume
14
Copyright
2008
Publisher
Springer US
Copyright Holder
Springer-Verlag US
eBook ISBN
978-0-387-36951-8
DOI
10.1007/978-0-387-36951-8
Hardcover ISBN
978-0-387-36950-1
Softcover ISBN
978-1-4419-4238-8
Series ISSN
1571-8689
Edition Number
1
Number of Pages
XV, 297
Topics