On a Discounted Replacement Problem with Arbitrary Repair Time Distribution

The functional equation technique is applied to obtain explicit expressions for the long-term total expected discounted cost in replacement problems incorporating the downtime effect associated with the repair state of the failed component. Necessary and sufficient conditions for an optimal replacement policy are obtained and some asymptotic results are derived.

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Year of publication:	1973
Authors:	Sivazlian, B. D.
Published in:	Management Science. - Institute for Operations Research and the Management Sciences - INFORMS, ISSN 0025-1909. - Vol. 19.1973, 11, p. 1301-1309
Publisher:	Institute for Operations Research and the Management Sciences - INFORMS

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Extent:	application/pdf
Type of publication:	Article
Other identifiers:	10.1287/mnsc.19.11.1301 [DOI]
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10009214091