Aggregation and disaggregation in Markov decision models for inventory control
type: Item
instance of: scholarly article
title: Aggregation and disaggregation in Markov decision models for inventory control
zbMATH Open document ID: 0573.90100
DOI: 10.1016/0377-2217(85)90066-9
author: B. George
published in: European Journal of Operational Research
publication date: 1985-01-01T00:00:00Z
review text: The possibility is investigated of using aggregation in the action space for some Markov decision processes of inventory control type. For the standard (s,S) inventory control model the policy improvement procedure can be executed in a very efficient way, therefore, aggregation in the action space is not of much use. However, in situations where the decisions have some aftereffect and, hence, the old decision has to be incorporated in the state, it might be rewarding to aggregate actions. Some variants for aggregation and disaggregation are formulated and analyzed. Numerical evidence is presented.
Mathematics Subject Classification ID: 90C40
Mathematics Subject Classification ID: 90B05
zbMATH DE Number: 3916052
zbMATH Keywords: aggregation in the action space
zbMATH Keywords: Markov decision processes
zbMATH Keywords: inventory control
zbMATH Keywords: policy improvement
zbMATH Keywords: disaggregation
MaRDI profile type: Publication
full work available at URL: 0377-2217(85)90066-9
OpenAlex ID: W2145262827
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description: scientific article; zbMATH DE number 3916052