Dominant Strategies in Stochastic Allocation and Scheduling Problems [chapter]

P. Nash, R. R. Weber
1982 Deterministic and Stochastic Scheduling  
Some problems of stochastic allocation and scheduling have the property that there is a single strategy which minimizes the expected value of the cos ts incurred up to every fi ni te time hori zon. We present a sufficient condition for this to occur in the case where the problem can be modelled by a Markov decision process with costs depending only on the state of the process. The condition is used to establish the nature of the optimal strategies for problems of customer assignment, dynamic
more » ... ignment, dynamic memory allocation, optimal gambling, maintenance and scheduling~ A strategy with this property shall be called expectation dominant ( ED ). A s t rat e gy wi 11 be calI e d s t 0 chas ti c d 0 min ant (S D) iff 0 r alI times t it minimizes in distribution the cost incurred at time t. Weeks and Wingler [14J have argued that stochastic dominance is the property most desired in a scheduling strategy. To give an example of a problem in which the optimal strategy 343 M. A. H. Dempster et at. (eds.) , Deterministic and Stochastic Scheduling 343 353.
doi:10.1007/978-94-009-7801-0_20 fatcat:prhcxbc63rerrm6ncobqrdel5i