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Abstract: Discounting the future means that the value, today, of a unit payo# is 1 if the payo# occurs today, a if it occurs tomorrow, a if it occurs the day after tomorrow, and so on, for some real-valued discount factor 0 < a < 1. Discounting (or inflation) is a key paradigm in economics and has been studied in Markov decision processes as well as game theory. We submit that discounting also has a natural place in systems engineering: for nonterminating systems, a potential bug in the far-away... (Update)
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BibTeX entry: (Update)
L. de Alfaro, T.A. Henzinger, and R. Majumdar. Discounting the future in systems theory. In Automata, Languages, and Programming, LNCS 2719, pages 1022-1037. Springer, 2003. http://citeseer.ist.psu.edu/dealfaro03discounting.html More
@misc{ alfaro03discounting,
author = "L. de Alfaro and T. Henzinger and R. Majumdar",
title = "Discounting the future in systems theory",
text = "L. de Alfaro, T.A. Henzinger, and R. Majumdar. Discounting the future in
systems theory. In Automata, Languages, and Programming, LNCS 2719, pages
1022-1037. Springer, 2003.",
year = "2003",
url = "citeseer.ist.psu.edu/dealfaro03discounting.html" }
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