Markov decision processes (MDPs) and stochastic control constitute pivotal frameworks for modelling decision-making in systems subject to uncertainty. At their core, MDPs provide a structured means to ...

In this paper we address the problem of increasing software maintenance costs in a custom software development environment, and develop a stochastic decision model for the maintenance of information ...

Abstract: In water resources planning and management, stochastic modeling and simulation of hydrologic time series has been widely used for various purposes including decision making and project ...

Ecology and Society, Vol. 13, No. 2 (Dec 2008) (16 pages) ABSTRACT. Invasive species are a major cause of environmental change and are often costly to control. Decision theory should offer managers ...