Monotonicity in multidimensional Markov decision processes for the batch dispatch problem

  • Authors:

  • Katerina Papadaki;Warren B. Powell

  • Affiliations:

  • Department of Operational Research, London School of Economics, Houghton Street, London WC2A 2AE, UK;Department of Operations Research and Financial Engineering, Princeton University, USA

  • Venue:
  • Operations Research Letters
  • Year:
  • 2007

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Abstract

Structural properties of stochastic dynamic programs are essential to understanding the nature of the solutions and in deriving appropriate approximation techniques. We concentrate on a class of multidimensional Markov decision processes and derive sufficient conditions for the monotonicity of the value functions. We illustrate our result in the case of the multiproduct batch dispatch (MBD) problem.