Abstract
We are concerned with the expected average cost optimal control problem for discrete-time Markov control processes with Borel state and action spaces and possibly unbounded costs. We show, under a Lyapunov stability condition and a growth condition on the costs, the existence of a stationary optimal policy using the well-known Banach's fixed point theorem.
| Original language | English |
|---|---|
| Pages (from-to) | 185-195 |
| Number of pages | 11 |
| Journal | Boletin de la Sociedad Matematica Mexicana |
| Volume | 9 |
| Issue number | 1 |
| State | Published - Apr 2003 |
Keywords
- Banach's fixed point theorem
- Discrete-time Makov control processes
- Expected average cost criterion
- Lyapunov conditions