Representing and solving decision problems with limited information

SL Lauritzen; D Nilsson

doi:10.1287/mnsc.47.9.1235.9779

Representing and solving decision problems with limited information

132 Citations (Scopus)

Abstract

We introduce the notion of LImited Memory Influence Diagram (LIMID) to describe multistage decision problems in which the traditional assumption of no forgetting is relaxed. This can be relevant in situations with multiple decision makers or when decisions must be prescribed under memory constraints, such as in partially observed Markov decision processes (POMDPs). We give an algorithm for improving any given strategy by local computation of single policy updates and investigate conditions for the resulting strategy to be optimal.

Original language	English
Journal	Management Science
Volume	47
Issue number	9
Pages (from-to)	1235-1251
Number of pages	17
ISSN	0025-1909
DOIs	https://doi.org/10.1287/mnsc.47.9.1235.9779
Publication status	Published - 2001
Externally published	Yes

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10.1287/mnsc.47.9.1235.9779

Cite this

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AB - We introduce the notion of LImited Memory Influence Diagram (LIMID) to describe multistage decision problems in which the traditional assumption of no forgetting is relaxed. This can be relevant in situations with multiple decision makers or when decisions must be prescribed under memory constraints, such as in partially observed Markov decision processes (POMDPs). We give an algorithm for improving any given strategy by local computation of single policy updates and investigate conditions for the resulting strategy to be optimal.

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DO - 10.1287/mnsc.47.9.1235.9779

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