Optimal choice for finite and infinite horizons

Z.Z. Méder, J. Flesch, R. Peeters*

*Corresponding author for this work

Research output: Contribution to journalArticleAcademicpeer-review


This paper lays down conceptual groundwork for optimal choice in infinite-horizon finite-state Markov decision problems. We distinguish two notions of a strategy being favored on the limit of horizons, and examine the properties of the emerging binary relations. After delimiting two senses of optimality, we analyze the relationship between the resulting sets of optimal strategies - including the Ramsey-Weizsacker overtaking criterion - and their existence properties. We also relate to the pointwise limits of strategies of Fudenberg and Levine [3]. 

Original languageEnglish
Pages (from-to)469-474
Number of pages6
JournalOperations Research Letters
Issue number6
Publication statusPublished - Nov 2012


  • Optimality
  • Markov decision problem
  • Overtaking criterion


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