Discounted Markov control processes induced by deterministic systems
Hugo Cruz-Suárez, Raúl Montes-de-Oca (2006)
Kybernetika
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This paper deals with Markov Control Processes (MCPs) on Euclidean spaces with an infinite horizon and a discounted total cost. Firstly, MCPs which result from the deterministic controlled systems will be analyzed. For such MCPs, conditions that permit to establish the equation known in the literature of Economy as Euler’s Equation (EE) will be given. There will be also presented an example of a Markov Control Process with deterministic controlled system where, to obtain the optimal...