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Optimal control of a dam using Pλ,τM policies and penalty cost when the input process is a compound Poisson process with positive drift
- Part of
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- Journal:
- Journal of Applied Probability / Volume 37 / Issue 2 / June 2000
- Published online by Cambridge University Press:
- 14 July 2016, pp. 408-416
- Print publication:
- June 2000
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- Article
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In this paper we consider the optimal control of an infinite dam using
policies assuming that the input process is a compound Poisson process with a non-negative drift term, and using the total discounted cost and long-run average cost criteria. The results of Lee and Ahn (1998) as well as other well-known results are shown to follow from our results.
policies assuming that the input process is a compound Poisson process with a non-negative drift term, and using the total discounted cost and long-run average cost criteria. The results of Lee and Ahn (1998) as well as other well-known results are shown to follow from our results.