HIGHLIGHTS
- who: Nakade Koichi and Karim Rubayet from the Nagoya Institute of Technology, Nagoya, JapanJashore, Bangladesh. have published the research: Analysis of a discrete-time Markov process with a bounded continuous state space by the Fredholm integral equation of the second kind, in the Journal: (JOURNAL) of December/28,/2021
- what: The authors show that the equilibrium equations on steady-state probability and densities form Fredholm integral equations of the second kind. In Section 4, the analysis in Section 3 is applied to the basic EPQ model, and the optimal maximum inventory level is derived.
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