FINDING OPTIMAL POLICIES IN DISCRETE DYNAMIC PROGRAMMING,

Abstract

The problem considered is the discrete time multichain decision problem introduced and largely solved by Howard (Dynamic Programming and Markov Processes, Technology Press and John Wiley + Sons, Inc., New York 1960). A policy iteration algorithm is developed that obtains an optimal stationary policy for the discount problem involving all discount factors sufficiently close to one. (These are the policies that Blackwell has termed optimal and has proved existed.) The algorithm is excellent for a decisionmaker who knows that he should use a low discount rate but doesn't know what it should be. (Author)

Document Details

Document Type
Technical Report
Publication Date
Apr 01, 1968
Accession Number
AD0668760

Entities

People

  • Bruce L. Miller

Organizations

  • RAND Corporation

Tags

Communities of Interest

  • Materials and Manufacturing Processes

DTIC Thesaurus Topics

  • Algorithms
  • Computer Programming
  • Dynamic Programming
  • Evolutionary Algorithms
  • Heuristic Methods
  • Iterations
  • Markov Processes
  • Mathematics
  • New York
  • Stationary

Readers

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