  We consider a dynamic content caching framework; contents are getting updated
at the central server, and a subset of contents are cached at the local cache
associated with a Base station (BS). When a request comes, based on whether the
content is in the local cache, the BS can decide whether to fetch the content
from the central server or serve the cached version from the local cache.
Fetching a content incurs a fixed fetching cost, and serving the cached version
incurs ageing cost, proportional to the age-of-version (AoV) of the content.
AoV is a freshness metric that counts the number of updates at the central
server since the content is being fetched. We aim to minimize the average costs
(fetching cost and ageing cost) subject to cache capacity constraints. This
cost minimization problem is a continuous time restless multiarmed bandit
process (RMAB). The single content problem of the corresponding RMAB is a
partially observable Markov decision process (POMDP) since the BS can only see
the AoV of the cached contents if it fetches the content. We reformulate the
POMDP as a semi-Markov decision process and provide a Whittle index based
solution to this problem. Finally, we compare the performance with recent work
and show that our proposed policy is optimal via simulations.
