Returning to the Markov Decision Process, this time with a solution. Nick Hawes of the ORI takes us through the algorithm, strap in for an epic episode!

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The value iteration algorithm is a method for solving Markov decision processes (MDPs) to produce optimal action decisions. MDPs model decision-making problems, particularly those under uncertainty. The algorithm iteratively computes the values of states to find the policy that minimizes cost or maximizes reward. It is essential for decision-making models where dynamic programming techniques are applied to achieve the best outcome.

Solve Markov Decision Processes with the Value Iteration Algorithm - Computerphile