6. Average Cost Optimization for Finite State Spaces

  1. Linn I. Sennott

Published Online: 27 MAY 2008

DOI: 10.1002/9780470317037.ch6

Stochastic Dynamic Programming and the Control of Queueing Systems

Stochastic Dynamic Programming and the Control of Queueing Systems

How to Cite

Sennott, L. I. (1998) Average Cost Optimization for Finite State Spaces, in Stochastic Dynamic Programming and the Control of Queueing Systems, John Wiley & Sons, Inc., Hoboken, NJ, USA. doi: 10.1002/9780470317037.ch6

Author Information

  1. Illinois State University

Publication History

  1. Published Online: 27 MAY 2008
  2. Published Print: 16 SEP 1998

ISBN Information

Print ISBN: 9780471161202

Online ISBN: 9780470317037

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Keywords:

  • finite state spaces;
  • average cost optimality equation;
  • cost optimization;
  • constant minimum average cost;
  • inflection points

Summary

The prelims comprise:

  • A Fundamental Relationship for S Countable

  • An Optimal Stationary Policy Exists

  • An Average Cost Optimality Equation

  • ACOE for Constant Minimum Average Cost

  • Solutions to the ACOE

  • Method of Calculation

  • An Example