Consumer's optimal policies for purchasing durable goods.
Junxiu JiaRong DuQiying HuPublished in: Int. J. Serv. Technol. Manag. (2010)
Keyphrases
- optimal policy
- electronic commerce
- online shopping
- business transactions
- information goods
- markov decision processes
- purchasing behavior
- finite horizon
- finite state
- state space
- decision problems
- dynamic programming
- reinforcement learning
- infinite horizon
- multistage
- internet shopping
- sufficient conditions
- average reward
- long run
- state dependent
- consumer behavior
- average reward reinforcement learning
- bayesian reinforcement learning
- markov decision process
- inventory level
- dynamic programming algorithms
- online retailers
- policy iteration
- partially observable markov decision processes
- lost sales
- control policies
- markov decision problems
- customer satisfaction
- initial state
- average cost
- production system
- np hard
- search algorithm