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In this paper we introduce a class of Markov decision processes that arise as a natural model for many renewable resource allocation problems. Upon extending results from the inventory control literature, we prove that they admit a closed form solution and we show how to exploit this structure to speed up its computation. We consider the application of the proposed framework to several problems arising in very different domains, and as part of the ongoing effort in the emerging field of Computational Sustainability we discuss in detail its application to the Northern Pacific Halibut marine fishery. Our approach is applied to a model based on real world data, obtaining a policy with a guaranteed lower bound on the utility function that is structurally very different from the one currently employed.
We study online resource allocation in a cloud computing platform, through a posted pricing mechanism: The cloud provider publishes a unit price for each resource type, which may vary over time; upon arrival at the cloud system, a cloud user either t
Security Games employ game theoretical tools to derive resource allocation strategies in security domains. Recent works considered the presence of alarm systems, even suffering various forms of uncertainty, and showed that disregarding alarm signals
This paper is about index policies for minimizing (frequentist) regret in a stochastic multi-armed bandit model, inspired by a Bayesian view on the problem. Our main contribution is to prove that the Bayes-UCB algorithm, which relies on quantiles of
Optimizing resource allocation for analytical workloads is vital for reducing costs of cloud-data services. At the same time, it is incredibly hard for users to allocate resources per query in serverless processing systems, and they frequently misall
Critical infrastructure protection (CIP) is envisioned to be one of the most challenging security problems in the coming decade. One key challenge in CIP is the ability to allocate resources, either personnel or cyber, to critical infrastructures wit