In Operations Research, the equipment replacement process is usually modeled in discrete time. The optimal replacement strategies are found from discrete (or integer) programming problems, well known for their analytic and computational complexity. An alternative approach is represented by...

We analyze the behavior of electricity generation groups that make investment and production decisions in a liberalized market scenario by introducing long-term contracts, in a context where there is a high level of market concentration. In this way, a dynamic deterministic model of imperfect...