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Assigning Multiple Job Types to Parallel Specialized Servers
van der Laan, Dinard - 2015
In this paper methods of mixing decision rules are investigated and applied to the so-called multiple job type … assignment problem with specialized servers which is modeled as continuous time Markov decision process. Performance optimization … the described mixing methods a suitable static decision rule is mixed with some dynamic decision rules which are easy to …
Persistent link: https://www.econbiz.de/10011403564
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On the optimality of regularity in mixing markovian decision rules for MDP control
Laan, Dinard van der - 2010
In this paper we study Markov Decision Process (MDP) problems with the restriction that at decision epochs only a … finite number of given Markovian decision rules may be applied. The elements of the finite set of allowed decision rules … should be mixed to improve the performance. The set of allowed Markovian decision rules could for example consist of some …
Persistent link: https://www.econbiz.de/10011380145
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A data-driven explainable case-based reasoning approach for financial risk detection
Li, Wei; Paraschiv, Florentina; Sermpinis, Georgios - 2021
The rapid development of artificial intelligence methods contributes to their wide applications for forecasting various financial risks in recent years. This study introduces a novel explainable case-based reasoning (CBR) approach without a requirement of rich expertise in financial risk....
Persistent link: https://www.econbiz.de/10012584957
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Using Nonlinear Model Predictive Control for Dynamic Decision Problems in Economics
Grüne, Lars - 2015
This paper presents a new approach to solve dynamic decision models in economics. The proposed procedure, called … solve dynamic decision problems in economics by means of numerical simulations for various examples, including stochastic …
Persistent link: https://www.econbiz.de/10013035785
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Statistical Decision Making for Optimal Budget Allocation in Crowd Labeling
Chen, Xi; Lin, Qihang; Zhou, Dengyong - 2015
consider categorical labeling tasks and formulate the budget allocation problem as a Bayesian Markov decision process (MDP …), which simultaneously conducts learning and decision making. Using the dynamic programming (DP) recurrence, one can obtain …
Persistent link: https://www.econbiz.de/10014037503
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A Maximum Probability Approach to Short-Run Monetary Policy
Von zur Mühlen, Peter; Tinsley, Peter A. - 2022
The optimal control literature traditionally analyzes linear-quadratic Gaussian (LQG) formulations of macroeconomic policy design where policy planers seek to minimize the distance between a direct target vector y and a vector of aspiration levels y*, using a suitably dimensioned matrix M as a...
Persistent link: https://www.econbiz.de/10013403661
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Relative Q-Learning for Average-Reward Markov Decision Processes with Continuous States
Yang, Xiangyu; Hu, Jiaqiao; Hu, Jianqiang - 2021
We propose an online algorithm for solving a class of average-reward Markov decision processes with continuous state …
Persistent link: https://www.econbiz.de/10013309947
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Equilibrium in misspecified Markov decision processes
Esponda, Ignacio; Pouzo, Demian - In: Theoretical economics : TE ; an open access journal in … 16 (2021) 2, pp. 717-757
optimization problem. The agent faces a Markov Decision Process, where a transition probability function determines the evolution …
Persistent link: https://www.econbiz.de/10012587434
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On the Optimality of Regularity in Mixing Markovian Decision Rules for MDP Control
van der Laan, Dinard - 2010
In this paper we study Markov Decision Process (MDP) problems with the restriction that at decision epochs only a … finite number of given Markovian decision rules may be applied. The elements of the finite set of allowed decision rules … should be mixed to improve the performance. The set of allowed Markovian decision rules could for example consist of some …
Persistent link: https://www.econbiz.de/10010325920
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Decision-making models and support systems for supply chain risk : literature mapping and future research agenda
Fagundes, Marcus Vinicius Carvalho; Teles, Eduardo Oliveira - In: European research on management and business economics 26 (2020) 2, pp. 63-70
, classify, and analyze decision-making models and support systems for SCRM, providing an agenda for future research. Through … bibliometric networks of articles published in the Scopus database, we analyze the most influential decision-making models and …. The main results are the following: we found that the identity of the area is structured in three groups of risk decision …
Persistent link: https://www.econbiz.de/10012307838