A Markov Decision Process Model of Operations Management in Start-up Firms

T. Archibald, Kuangyi Liu

Research output: Contribution to conferenceAbstract

Abstract

We present a general Markov decision process (MDP) model for operations
management with a profit maximizing objective and extend this to a survival
maximizing objective with a constraint on capital. We argue that the survival
maximizing objective may be more suitable for start-up firms. Analysis of the
models under different assumptions about the operating environment provides
insight into the successful management of start-up firms.
Original languageEnglish
Publication statusPublished - 2010
EventALIO/INFORMS Joint International Meeting -
Duration: 1 Jan 2010 → …

Conference

ConferenceALIO/INFORMS Joint International Meeting
Period1/01/10 → …

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