Deakin University
Browse

File(s) not publicly available

A Restless Bandit Model for Resource Allocation, Competition, and Reservation

Version 2 2024-06-13, 17:35
Version 1 2022-09-29, 01:29
journal contribution
posted on 2024-06-13, 17:35 authored by J Fu, B Moran, PG Taylor
In “A Restless Bandit Model for Resource Allocation, Competition and Reservation,” J. Fu, B. Moran, and P. G. Taylor study a resource allocation problem with varying requests and with resources of limited capacity shared by multiple requests. This problem is modeled as a set of heterogeneous restless multi-armed bandit problems (RMABPs) connected by constraints imposed by resource capacity. Following Whittle’s idea of relaxing the constraints and Weber and Weiss’s proof of asymptotic optimality, the authors propose an index policy and establish conditions for it to be asymptotically optimal in a regime where both arrival rates and capacities increase. In particular, they provide a simple sufficient condition for asymptotic optimality of the policy and, in complete generality, propose a method that generates a set of candidate policies for which asymptotic optimality can be checked. Via numerical experiments, they demonstrate the effectiveness of these results even in the pre-limit case.

History

Journal

Operations Research

Volume

70

Pagination

416-431

ISSN

0030-364X

eISSN

1526-5463

Language

en

Publication classification

C1.1 Refereed article in a scholarly journal

Issue

1

Publisher

Institute for Operations Research and the Management Sciences (INFORMS)