Time-constrained restless bandits and the knapsack problem for perishable items (Extended Abstract)

Jacko, Peter and Niño-Mora, José (2007) Time-constrained restless bandits and the knapsack problem for perishable items (Extended Abstract). Electronic Notes in Discrete Mathematics, 28. pp. 145-152. ISSN 1571-0653

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Abstract

Motivated by a food promotion problem, we introduce the Knapsack Problem for Perishable Items (KPPI) to address a dynamic problem of optimally filling a knapsack with items that disappear randomly. The KPPI naturally bridges the gap and elucidates the relation between the PSPACE-hard restless bandit problem and the NP-hard knapsack problem. Our main result is a problem decomposition method resulting in an approximate transformation of the KPPI into an associated 0-1 knapsack problem. The approach is based on calculating explicitly the marginal productivity indices in a generic finite-horizon restless bandit subproblem.

Item Type:
Journal Article
Journal or Publication Title:
Electronic Notes in Discrete Mathematics
Additional Information:
The final, definitive version of this article has been published in the Journal, Electronic Notes in Discrete Mathematics 28, 2007, © ELSEVIER.
Uncontrolled Keywords:
/dk/atira/pure/subjectarea/aacsb/disciplinebasedresearch
Subjects:
ID Code:
71358
Deposited By:
Deposited On:
21 Oct 2014 13:25
Refereed?:
No
Published?:
Published
Last Modified:
07 Jul 2020 03:34