Minimax strategies for average cost stochastic games with an application to inventory models. (English) Zbl 0619.90099
We consider a zero-sum average cost stochastic game with an unbounded lower semi-continuous cost function, and by using the contraction property for the average case we give sufficient conditions for which there exists a minimax stationary strategy. Also, we formulate a minimax inventory model as a stochastic game and show that for any \(\epsilon >0\) there exists an \(\epsilon\)-minimax random (s,S) ordering policy, which is a modification of (s,S) ordering policy, under some weak conditions.
MSC:
91A15 | Stochastic games, stochastic differential games |
91A60 | Probabilistic games; gambling |
90B05 | Inventory, storage, reservoirs |
91A05 | 2-person games |