---
res:
bibo_abstract:
- 'Discounting the future means that the value, today, of a unit payoffis 1 if the
payoffo ccurs today, a if it occurs tomorrow, a 2 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 future is less troubling than a potential bug today. We therefore develop
a systems theory with discounting. Our theory includes several basic elements:
discounted versions of system properties that correspond to the ω-regular properties,
fixpoint-based algorithms for checking discounted properties, and a quantitative
notion of bisimilarity for capturing the difference between two states with respect
to discounted properties. We present the theory in a general form that applies
to probabilistic systems as well as multicomponent systems (games), but it readily
specializes to classical transition systems. We show that discounting, besides
its natural practical appeal, has also several mathematical benefits. First, the
resulting theory is robust, in that small perturbations of a system can cause
only small changes in the properties of the system. Second, the theory is computational,
in that the values of discounted properties, as well as the discounted bisimilarity
distance between states, can be computed to any desired degree of precision.@eng'
bibo_authorlist:
- foaf_Person:
foaf_givenName: Luca
foaf_name: de Alfaro, Luca
foaf_surname: De Alfaro
- foaf_Person:
foaf_givenName: Thomas A
foaf_name: Thomas Henzinger
foaf_surname: Henzinger
foaf_workInfoHomepage: http://www.librecat.org/personId=40876CD8-F248-11E8-B48F-1D18A9856A87
orcid: 0000−0002−2985−7724
- foaf_Person:
foaf_givenName: Ritankar
foaf_name: Majumdar, Ritankar S
foaf_surname: Majumdar
bibo_doi: 10.1007/3-540-45061-0_79
bibo_volume: 2719
dct_date: 2003^xs_gYear
dct_publisher: Springer@
dct_title: Discounting the future in systems theory@
...