Process Is a Nonnegative Lévy Process
نویسنده
چکیده
We consider P λ,τ policy of a dam inwhich thewater input is an increasing Lévy process. The release rate of the water is changed from 0 toM and fromM to 0 M > 0 at the moments when the water level upcrosses level λ and downcrosses level τ τ < λ , respectively. We determine the potential of the dam content and compute the total discounted as well as the long-run average cost. We also find the stationary distribution of the dam content. Our results extend the results in the literature when the water input is assumed to be a Poisson process.
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