Journal article

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

Jing Fu, Bill Moran, Peter G Taylor

Operations Research | Institute for Operations Research and the Management Sciences (INFORMS) | Published : 2021

Abstract

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 suf..

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