Discounted semi-Markov decision processes: linear programming and policy iteration

For semi-Markov decision processes with discounted rewards we derive the well known results regarding the structure of optimal strategies (nonrandomized, stationary Markov strategies) and the standard algorithms (linear programming, policy iteration). Our analysis is completely based on a primal linear programming formulation of the problem.     

MARKOV DECISION PROCESSES

A review is presented of the development over the years of the theory and practical use of Markov decision processes. To this purpose three periods are considered: before 1966, from 1966 till 1972, and after 1973. In all 3 periods there has been some contribution from the Netherlands, but particularly in the last period the research in the Netherlands on the subject has become a major stream. In this review particular emphasis is given to the work which has been done in the Netherlands, but the main line of the paper is determined by the development of the applicability of the available theory.     

International insolvency law in the Netherlands: The pre-draft of title 10

In November 2007, in the Netherlands, the Insolvency Law Committee published a pre-draft for a new Insolvency Act, to replace its present Bankruptcy Act of 1896. One of the most interesting renewals the Committee has presented is Title 10, which contains provisions concerning “International Insolvency Law”, containing 35 articles, divided over five chapters. In this Article the English translation of the draft for Title 10 is presented, preceded by an introduction of these provisions. The Dutch Minister of Justice has introduce a consultation period which is open until September 15, 2008. Any comments to improve the present pre-draft are welcome: info@bobwessels.nl. Copyright © 2008 John Wiley & Sons, Ltd.