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Average cost under the PMλ, τ policy in a finite dam with compound Poisson inputs
Published online by Cambridge University Press: 14 July 2016
Abstract
We consider the policy in a finite dam in which the input of water is formed by a compound Poisson process and the rate of water release is changed instantaneously from a to M and from M to a (M > a) at the moments when the level of water exceeds λ and downcrosses τ (λ > τ) respectively. After assigning costs to the changes of release rate, a reward to each unit of output, and a cost related to the level of water in the reservoir, we determine the long-run average cost per unit time.
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- Copyright © Applied Probability Trust 2003
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