Markov Decision Problems with Expected Utility Criteria.

Abstract

Finite state and action Markov decision problems with expected utility criteria are analyzed. A Markov decision chain (or sequential decision process) is defined in the usual manner. But instead of seeking to maximize the expected sum (or product) of rewards, the objective is maximization of the expectation of some cardinal utility function defined on the sequence of rewards.

Document Details

Document Type
Technical Report
Publication Date
Jun 01, 1975
Accession Number
ADA016233

Entities

People

  • David M. Kreps

Organizations

  • Stanford University

Tags

Communities of Interest

  • Human Systems

DTIC Thesaurus Topics

  • Sequences

Readers

  • Mathematical Modeling and Probability Theory.
  • Team-Based Human-Centered Cognitive Task Decision Making and Information Performance.