A qualitative approach to Markovian equilibrium in infinite horizon economies with capital.
Leonard J. MirmanOlivier F. MorandKevin L. ReffettPublished in: J. Econ. Theory (2008)
Keyphrases
- infinite horizon
- long run
- optimal control
- finite horizon
- optimal policy
- production planning
- dynamic programming
- stochastic demand
- markov decision processes
- single item
- state space
- average cost
- partially observable
- game theory
- markov decision process
- lead time
- nash equilibrium
- real time
- holding cost
- dec pomdps
- search algorithm
- inventory level
- fixed cost
- periodic review
- decision making