A version of the Euler equation in discounted Markov decision processes

DOI10.1155/2012/103698zbMath1272.49045OpenAlexW2016648086WikidataQ58905696 ScholiaQ58905696MaRDI QIDQ1952742

G. Zacarías-Espinoza, V. Vázquez-Guevara, Hugo Cruz-Suárez

Publication date: 3 June 2013

Published in: Journal of Applied Mathematics (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1155/2012/103698

zbMATH Keywords

optimal controldynamic programmingEuler equationMarkov decision processoptimal value functionvalue iteration function

Mathematics Subject Classification ID

Dynamic programming in optimal control and differential games (49L20) Management decision making, including multiple objectives (90B50) Dynamic programming (90C39) Linear-quadratic optimal control problems (49N10) Markov and semi-Markov decision processes (90C40)

Related Items (2)

Ramsey’s Discrete-Time Growth Model: A Markov Decision Approach with Stochastic Labor ⋮ Optimal strategies for a fishery model applied to utility functions

Cites Work

• Unnamed Item
• Unnamed Item
• Unnamed Item
• Unnamed Item
• Unnamed Item
• Unnamed Item
• Unnamed Item
• Discounted dynamic programming with unbounded returns: application to economic models
• A note on uncertainty and discounting in models of economic growth
• On optimal growth under uncertainty
• Two characterizations of optimality in dynamic programming
• Conditions for the uniqueness of optimal policies of discounted Markov decision processes
• Stochastic optimal growth with bounded or unbounded utility and with bounded or unbounded shocks
• An envelope theorem and some applications to discounted Markov decision processes
• On the Differentiability of the Value Function in Dynamic Models of Economics
• Mathematical Methods and Models for Economists
• Envelope Theorems for Arbitrary Choice Sets
• Convex Analysis

This page was built for publication: A version of the Euler equation in discounted Markov decision processes