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Spinning plates and squad systems- policies for bi-directional restless bandits.

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Spinning plates and squad systems- policies for bi-directional restless bandits. / Glazebrook, K D; Kirkbride, C; Ruiz-Hernandez, D.
In: Advances in Applied Probability, Vol. 38, No. 1, 03.2006, p. 95-115.

Research output: Contribution to Journal/MagazineJournal articlepeer-review

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Glazebrook KD, Kirkbride C, Ruiz-Hernandez D. Spinning plates and squad systems- policies for bi-directional restless bandits. Advances in Applied Probability. 2006 Mar;38(1):95-115. doi: 10.1239/aap/1143936142

Author

Glazebrook, K D ; Kirkbride, C ; Ruiz-Hernandez, D. / Spinning plates and squad systems- policies for bi-directional restless bandits. In: Advances in Applied Probability. 2006 ; Vol. 38, No. 1. pp. 95-115.

Bibtex

@article{49e03b769e95418485a2599944b828ea,
title = "Spinning plates and squad systems- policies for bi-directional restless bandits.",
abstract = "This paper concerns two families of Markov decision problem that fall within the family of (bi-directional) restless bandits, an intractable class of decision processes introduced by Whittle. The spinning plates problem concerns the optimal management of a portfolio of reward-generating assets whose yields grow with investment but otherwise tend to decline. In the model of asset exploitation called the squad system, the yield from an asset tends to decline when it is used but will recover when the asset is at rest. In all cases, simply stated conditions are given that guarantee indexability of the problem, together with conditions necessary and sufficient for its strict indexability. The index heuristics for asset activation that emerge from the analysis are assessed numerically and found to perform very strongly.",
author = "Glazebrook, {K D} and C Kirkbride and D Ruiz-Hernandez",
note = "RAE_import_type : Journal article RAE_uoa_type : Statistics and Operational Research",
year = "2006",
month = mar,
doi = "10.1239/aap/1143936142",
language = "English",
volume = "38",
pages = "95--115",
journal = "Advances in Applied Probability",
issn = "1475-6064",
publisher = "Cambridge University Press",
number = "1",

}

RIS

TY - JOUR

T1 - Spinning plates and squad systems- policies for bi-directional restless bandits.

AU - Glazebrook, K D

AU - Kirkbride, C

AU - Ruiz-Hernandez, D

N1 - RAE_import_type : Journal article RAE_uoa_type : Statistics and Operational Research

PY - 2006/3

Y1 - 2006/3

N2 - This paper concerns two families of Markov decision problem that fall within the family of (bi-directional) restless bandits, an intractable class of decision processes introduced by Whittle. The spinning plates problem concerns the optimal management of a portfolio of reward-generating assets whose yields grow with investment but otherwise tend to decline. In the model of asset exploitation called the squad system, the yield from an asset tends to decline when it is used but will recover when the asset is at rest. In all cases, simply stated conditions are given that guarantee indexability of the problem, together with conditions necessary and sufficient for its strict indexability. The index heuristics for asset activation that emerge from the analysis are assessed numerically and found to perform very strongly.

AB - This paper concerns two families of Markov decision problem that fall within the family of (bi-directional) restless bandits, an intractable class of decision processes introduced by Whittle. The spinning plates problem concerns the optimal management of a portfolio of reward-generating assets whose yields grow with investment but otherwise tend to decline. In the model of asset exploitation called the squad system, the yield from an asset tends to decline when it is used but will recover when the asset is at rest. In all cases, simply stated conditions are given that guarantee indexability of the problem, together with conditions necessary and sufficient for its strict indexability. The index heuristics for asset activation that emerge from the analysis are assessed numerically and found to perform very strongly.

U2 - 10.1239/aap/1143936142

DO - 10.1239/aap/1143936142

M3 - Journal article

VL - 38

SP - 95

EP - 115

JO - Advances in Applied Probability

JF - Advances in Applied Probability

SN - 1475-6064

IS - 1

ER -