RENEWAL REWARD PROCESSES
Abstract
The paper considers a process in which rewards are being earned and for which there exist time points at which the process begins anew--that is, that there exists an embedded renewal process. An expression for the asymptotic mean reward earned during any time interval is then obtained. In the final section the special case of a regenerative reward process is considered and a simple expression is presented for the long run average reward earned per unit time.
Document Details
- Document Type
- Technical Report
- Publication Date
- Sep 01, 1969
- Accession Number
- AD0701888
Entities
People
- Mark O. Brown
- Sheldon M. Ross
Organizations
- University of California, Berkeley