Foundations of Average-Cost Nonhomogeneous Controlled Markov Chains

Discover the intricate world of Markov chains with "Foundations of Average-Cost Nonhomogeneous Controlled Markov Chains" by Xi-Ren Cao. Published by Springer Nature Switzerland AG in 2020, this insightful book spans 120 pages and offers a comprehensive exploration of advanced concepts in Markov chain theory. In this first edition, the author skillfully employs confluencity and relative optimization to classify states into confluent or branching categories. Readers will learn how to effectively tackle the under-selectivity issue of long-run averages, implement multi-class optimization, and derive critical Nth biases and Blackwell optimality conditions. This book is an essential resource for researchers and practitioners looking to deepen their understanding of nonhomogeneous controlled Markov chains and their applications. Enhance your knowledge and skills in this vital area of study today!