We consider a sequence of discounted cost, constrained Markov control processes (CCPs) with countable state space, metric action set and possibly unbounded cost functions. We give conditions under which the sequence of optimal values of the CCPs converges to the optimal value of a limiting CCP,...

We consider a sequence of discounted cost, constrained Markov control processes (CCPs) with countable state space, metric action set and possibly unbounded cost functions. We give conditions under which the sequence of optimal values of the CCPs converges to the optimal value of a limiting CCP,...

We consider Markov Decision Processes under light traffic conditions. We develop an algorithm to obtain asymptotically optimal policies for both the total discounted and the average cost criterion. This gives a general framework for several light traffic results in the literature. We illustrate...

We analyse several extensions to the Economic Order Quantity (EOQ) model: when the inventory deteriorates over time; when the demand contains a stock dependent term; and when the present value, or discounted cost, is included. We derive exact analytical expressions for the order that minimises...

We analyse several extensions to the Economic Order Quantity (EOQ) model: when the inventory deteriorates over time; when the demand contains a stock dependent term; and when the present value, or discounted cost, is included. We derive exact analytical expressions for the order that minimises...

We consider Markov Decision Processes under light traffic conditions. We develop an algorithm to obtain asymptotically optimal policies for both the total discounted and the average cost criterion. This gives a general framework for several light traffic results in the literature. We illustrate...