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Density Estimation in Inventory Control Systems under a Discounted Optimality Criterion

In: Statistical Methodologies

Author

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  • Adolfo Minjarez-Sosa

Abstract

This chapter deals with a class of discrete-time inventory control systems where the demand process D t is formed by independent and identically distributed random variables with unknown density. Our objective is to introduce a suitable density estimation method which, combined with optimal control schemes, defines a procedure to construct optimal policies under a discounted optimality criterion.

Suggested Citation

  • Adolfo Minjarez-Sosa, 2020. "Density Estimation in Inventory Control Systems under a Discounted Optimality Criterion," Chapters, in: Jan Peter Hessling (ed.), Statistical Methodologies, IntechOpen.
    • Handle: RePEc:ito:pchaps:180595
    DOI: 10.5772/intechopen.88392
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    More about this item

    Keywords

    discounted optimality; density estimation; inventory systems; optimal policies; Markov decision processes; AMS 2010 subject classifications: 93E20; 62G07; 90B05;
    All these keywords.

    JEL classification:

    • C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - General

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