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Single-Visit Policies for Allocating a Single Resource in a Stochastic Environment

Author

Listed:
  • I. Benkherouf

    (King Saud University, Riyadh, Saudi Arabia)

  • K. D. Glazebrook

    (University of Newcastle Upon Tyne, United Kingdom)

  • R. W. Owen

    (University of Newcastle Upon Tyne, United Kingdom)

Abstract

Conventional analyses of stochastic resource allocation problems based on Gittins' indices frequently yield policies which involve an unacceptable amount of switching of the resource from one option to another. This paper discusses a variety of methodologies aimed at solving this problem. They principally involve the development and analysis of stochastic resource allocation models incorporating switching costs together with a consideration of a new class of single-visit policies for which each option has a single (random) period during which it is in receipt of the key resource.

Suggested Citation

  • I. Benkherouf & K. D. Glazebrook & R. W. Owen, 1994. "Single-Visit Policies for Allocating a Single Resource in a Stochastic Environment," Operations Research, INFORMS, vol. 42(6), pages 1087-1099, December.
    • Handle: RePEc:inm:oropre:v:42:y:1994:i:6:p:1087-1099
    DOI: 10.1287/opre.42.6.1087
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    Cited by:

    1. K. D. Glazebrook & R. W. Owen, 1995. "Gittins‐index heuristics for research planning," Naval Research Logistics (NRL), John Wiley & Sons, vol. 42(7), pages 1041-1062, October.
    2. Seyed M. R. Iravani & John A. Buzacott & Morton J. M. Posner, 2003. "Operations and Shipment Scheduling of a Batch on a Felxible Machine," Operations Research, INFORMS, vol. 51(4), pages 585-601, August.

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