Ghosh, Mrinal K.; Arapostathis, Aristotle; Marcus, Steven I. Ergodic control of switching diffusions. (English) Zbl 0891.93081 SIAM J. Control Optimization 35, No. 6, 1952-1988 (1997). The existence of a stable, nonrandomized Markov policy is derived for the ergodic control problem of switching diffusions. The HJB equation is studied and the optimal control is characterized as a minimizing selector of the corresponding Hamiltonian.An extensive example is presented to apply the results to a failure-prone manufacturing system, for which closed form solutions for the optimal policy are derived. Reviewer: M.Kohlmann (Bonn) Cited in 67 Documents MSC: 93E20 Optimal stochastic control 60J60 Diffusion processes Keywords:switching diffusions; Markov policy; pathwise average cost; Hamilton-Jacobi-Bellman equation; ergodic control; failure-prone manufacturing system PDFBibTeX XMLCite \textit{M. K. Ghosh} et al., SIAM J. Control Optim. 35, No. 6, 1952--1988 (1997; Zbl 0891.93081) Full Text: DOI