Abstract

This paper establishes a simple existence proof for a solution to the optimality equations arising in finite undiscounted Markov Renewal Programs, by applying Brouwer's fixed point theorem to the so-called reduced value-iteration operator. Because of its simplicity, our approach lends itself to new existence results for more general models.

Authors
Awi Federgruen and Paul Schweitzer
Format
Journal Article
Publication Date
Journal
SIAM Journal on Algebraic and Discrete Methods

Full Citation

Federgruen, Awi and Paul Schweitzer
. “A fixed point approach to undiscounted Markov renewal programs.”
SIAM Journal on Algebraic and Discrete Methods
vol.
5
, (December 01, 1984):
539
-
550
.