Sufficient optimality conditions for control-limit policy in a semi-Markov process
I. Gertsbach · Journal of Applied Probability · 1976
A finite-state semi-Markov process (SMP) with penalties is considered. A property which is similar to an increasing-hazard-rate property for a Markov chain is defined for an SMP. The SMP is controlled by shifts from the stateEito immediately after a transition has occurred. Conditions are given which guarantee that the optimal stationary Markovian policy belongs to a subclass of control-limit policies.