Existing research has defined a new type of simulation time called Approximate Time, where the simulation's knowledge about the values that represent time is uncertain. The a...
Abstract The problem of finding the best-possible lower bound on the distribution of a non-decreasing function of n dependent risks is solved when n = 2 and a lower bound on the co...
We present a dynamic programming approach for the solution of first-order Markov decisions processes. This technique uses an MDP whose dynamics is represented in a variant of the ...
This paper presents a new approach to pricing Americanstyle derivatives. By approximating the value function with a piecewise linear interpolation function, the option holder'...
Scott B. Laprise, Michael C. Fu, Steven I. Marcus,...
In many practical reinforcement learning problems, the state space is too large to permit an exact representation of the value function, much less the time required to compute it. ...