We consider the fluid model of a controlled birth-and-death process with an absorbing state. Instead of analyzing the trajectories, we investigate the performance functionals of the underlying process by considering algebraic equations of the dynamic programming type. We provide the accuracy of such fluid approximations and give illustrative examples.
Bibliographical noteFunding Information:
This research was partially supported by the Alliance: Franco-British Research Partnership Programme, project PN08.021, British Council.
- Birth-and-death process
- Continuous-time Markov chain
- Dynamic programming
- Fluid model
- Optimal control
- Queueing system
ASJC Scopus subject areas
- Management Science and Operations Research