0410994 20240103182254.320060210235959.9 80-8069-114-2 Nitra Slovak Agricultural University 2002 7 s. 230-236MagáthováV. Markov reward processes reward variance small interest rate cav_un_auth*0101193 Sitař Milan UTIA-B Ústav teorie informace a automatizace AV ČR, v. v. i. cav_un_auth*0101196 Sladký Karel UTIA-B Department of Econometrics Ústav teorie informace a automatizace AV ČR, v. v. i. 12B GA402/02/1015 GA ČR cav_un_auth*0000527 GA402/01/0539 GA ČR cav_un_auth*0008959 CEZ:AV0Z1075907 We consider a discrete time Markov reward process with finite state space and assume that the rewards associated with the transitions are random variables with known probability distributions. Formulas for expected value and variance of the cumulative (random) reward are obtained for finite horizon case and infinite horizon models with discounting. Employing the Laurent expansion techniques we obtain explicit formulas for the variance of the long run discounted reward in the terms of undiscounted models. cav_un_auth*0212992 Quantitative Methods in Economics /11./ Nitra SK 05.12.2002-06.12.2002 BB E http://hdl.handle.net/11104/0131081 UTIA-B 20020208 2002 2002 Nitra Slovak Agricultural University 80-8069-114-2 Quantitative Methods in Economics. (Multiple Criteria Decision Making 11) 230 236 Magáthová V. 340