The critical discount factor for finite Markovian decision processes with an absorbing set

Abstract

This paper deals with a Markovian decision process with an absorbing set J0. We are interested in the largest number b b 1, called the critical discount factor, such that for all discount factors b smaller than b the limit V of the N-stage value function VN for N ! y exists and is finite for each choice of the one-stage reward function. Several… (More)
DOI: 10.1007/s001860200252

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