models and algorithms are proposed based on the theory of Markov decision processes and Approximate Dynamic programming. Then … the book presents a new model for the effective computation of optimal policies based on a Markov decision process …

-averse decision-maker. Modelling an expected utility maximizing decision maker, the problem is formulated as a risk-sensitive Markov … decision process. Special emphasis is put on the existence of structured optimal policies. Numerical examples illustrate the …Traditionally, revenue management models aim at a maximization of expected revenue, i.e. a risk-neutral decision …