This paper establishes a simple existence proof for a solution to the optimality equations arising in finite undiscounted Markov Renewal Programs, by applying Brouwer's fixed point theorem to the so-called reduced value-iteration operator. Because of its simplicity, our approach lends itself to new existence results for more general models.
Federgruen, Awi, and Paul Schweitzer. "A fixed point approach to undiscounted Markov renewal programs." SIAM Journal on Algebraic and Discrete Methods 5, no. 4 (December 1984): 539-550.
Each author name for a Columbia Business School faculty member is linked to a faculty research page, which lists additional publications by that faculty member.
Each topic is linked to an index of publications on that topic.