Sample-path average cost optimality for semi-Markov control processes on Borel spaces: unbounded costs and mean holding times
Oscar Vega-Amaya, Fernando Luque-Vásquez (2000)
Applicationes Mathematicae
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We deal with semi-Markov control processes (SMCPs) on Borel spaces with unbounded cost and mean holding time. Under suitable growth conditions on the cost function and the mean holding time, together with stability properties of the embedded Markov chains, we show the equivalence of several average cost criteria as well as the existence of stationary optimal policies with respect to each of these criteria.