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A Tie-Breaking Rule for Discrete Infinite Horizon Optimization

Author

Listed:
  • Sarah M. Ryan

    (Eastman Chemical Company, Kingsport, Tennessee)

  • James C. Bean

    (The University of Michigan, Ann Arbor, Michigan)

  • Robert L. Smith

    (The University of Michigan, Ann Arbor, Michigan)

Abstract

We study discrete infinite horizon optimization problems without the common assumption of a unique optimum. A method based on solution set convergence is employed for finding optimal initial decisions by solving finite horizon problems. This method is applicable to general discrete decision models that satisfy a weak reachability condition. The algorithm, together with a stopping rule, is applied to production planning and capacity expansion, and computational results are reported.

Suggested Citation

  • Sarah M. Ryan & James C. Bean & Robert L. Smith, 1992. "A Tie-Breaking Rule for Discrete Infinite Horizon Optimization," Operations Research, INFORMS, vol. 40(1-supplem), pages 117-126, February.
    • Handle: RePEc:inm:oropre:v:40:y:1992:i:1-supplement-1:p:s117-s126
    DOI: 10.1287/opre.40.1.S117
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    Cited by:

    1. Allise O. Wachs & Irwin E. Schochetman & Robert L. Smith, 2011. "Average Optimality in Nonhomogeneous Infinite Horizon Markov Decision Processes," Mathematics of Operations Research, INFORMS, vol. 36(1), pages 147-164, February.
    2. Suresh Chand & Vernon Ning Hsu & Suresh Sethi, 2002. "Forecast, Solution, and Rolling Horizons in Operations Management Problems: A Classified Bibliography," Manufacturing & Service Operations Management, INFORMS, vol. 4(1), pages 25-43, September.

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