Density Estimation in Inventory Control Systems under a Discounted Optimality Criterion

Adolfo Minjarez-Sosa

A chapter in Statistical Methodologies from IntechOpen

Abstract: This chapter deals with a class of discrete-time inventory control systems where the demand process D t is formed by independent and identically distributed random variables with unknown density. Our objective is to introduce a suitable density estimation method which, combined with optimal control schemes, defines a procedure to construct optimal policies under a discounted optimality criterion.

Keywords: discounted optimality; density estimation; inventory systems; optimal policies; Markov decision processes; AMS 2010 subject classifications: 93E20; 62G07; 90B05 (search for similar items in EconPapers)
JEL-codes: C10 (search for similar items in EconPapers)
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.intechopen.com/chapters/68432 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ito:pchaps:180595

DOI: 10.5772/intechopen.88392

Access Statistics for this chapter

More chapters in Chapters from IntechOpen
Bibliographic data for series maintained by Slobodan Momcilovic ().