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This open access textbook is the first to provide Business and Economics Ph.D. students with a precise and intuitive introduction to the formal backgrounds of modern financial theory. It explains Brownian motion, random processes, measures, and Lebesgue integrals intuitively, but without...
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In winner-take-all tournaments, agents' performance is determined jointly by effort and luck, and the top performer is rewarded. We study the impact of the ''shape of luck'' -- the details of the distribution of performance shocks -- on incentives in such settings. We are concerned with the...
Persistent link: https://www.econbiz.de/10012415494
, preventive maintenance should be planned as well. If a failure cannot be averted, a corrective maintenance activity is performed …. Both maintenance activities are assumed to restore the machine to become `as good as new'. Furthermore it is assumed that … jobs, interrupted by a machine failure, have to get restarted after the corrective maintenance is finished (non …
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Maintenance activities can have a large impact on the performance of a production process and promised delivery dates …. Therefore, maintenance and production planning should be handled as an integrated problem. In this paper, the problem of … maintenance activities are planned beforehand. If a failure cannot be averted, a corrective maintenance has to be performed …
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