In this paper, we revisit and clarify the celebrated machine maintenance and sale age model of Kamien and Schwartz (KS) involving a machine subject to failure. KS formulate and solve the problem as a deterministic optimal control problem with the probability of the machine failure as the state...

Diagnostic knowledge-based systems are used in a variety of application domains to support classification decisions. The effectiveness of such systems often decreases as the application environment or user preferences change over time. Hence, frequent adjustments to the system knowledge by a...