Discretizing continuous-time continuous-state deterioration processes, with an application to condition-based maintenance optimization

Bram de Jonge

Reliability Engineering and System Safety, 2019, vol. 188, issue C, 1-5

Abstract: We present an approach for discretizing stationary continuous-time continuous-state non-decreasing deterioration processes. This results in a discrete-time Markov chain that is represented by its transition probability matrix. Based on this approach, the easier specification of the more realistic continuous-time continuous-state models can be combined with the better analytical tractability of the discrete-time discrete-state models. We consider the gamma deterioration process as a special case and use the discretization approach combined with matrix algebra to optimize condition-based maintenance for a continuously monitored single-unit system.

Keywords: Deterioration process; Gamma process; Discretization; Markov chain; Condition-based maintenance (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (11)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:reensy:v:188:y:2019:i:c:p:1-5

DOI: 10.1016/j.ress.2019.03.006

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