A decision dependent stochastic process model for repairable systems with applications

Management decisions regarding maintenance protocols critically hinge on the underlying probability distribution of the time between failures in most repairable systems. Replacement of the system with a new one resets the system age to zero, whereas a repair does not alter the system age but may shift the parameters of the failure-time distribution. Additionally, maintenance decisions lead to left-truncated observations, and right-censored observations. Thus, the underlying stochastic process governing a repairable system evolves based on the management decision taken.

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Year of publication:	2015
Authors:	Zantek, Paul F. ; Hanson, Timothy ; Damien, Paul ; Popova, Elmira
Published in:	Operations Research Perspectives. - Amsterdam : Elsevier, ISSN 2214-7160. - Vol. 2.2015, p. 73-80
Publisher:	Amsterdam : Elsevier
Subject:	Kijima model \| Decision dependence \| Maintenance schedule \| Repairable system \| Spiral down effect

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Type of publication:	Article
Type of publication (narrower categories):	Article
Language:	English
Other identifiers:	10.1016/j.orp.2015.03.002 [DOI] 101946884X [GVK] hdl:10419/178251 [Handle] RePEc:eee:oprepe:v:2:y:2015:i:C:p:73-80 [RePEc]
Source:	EconStor

Persistent link: https://ebvufind01.dmz1.zbw.eu/10011825913