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The Non-ergodicity of Assets

Adolfo Crespo Márquez ()
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Adolfo Crespo Márquez: University of Seville

Chapter Chapter 6 in Digital Maintenance Management, 2022, pp 57-66 from Springer

Abstract: Abstract Different assets, by definition, have characteristics of non-ergodicity. What does this means? A system is ergodic if for a controlled experiment, studying a given process in several experiments running in parallel, correspond to studying the same process over time in a single experiment. In other words, the mean of the sample of experiments converges to the expected value over time of a single experiment. In industrial asset fleets these properties are not fulfilled. If a machine component fails several times, the mean properties of these failures do not necessarily converge to the mean properties of all the failures of that component in the fleet. This means that asset fleets are often non-ergodic. This Chapter explains how to deal with this problem when using collaborative learning and artificial intelligence tools.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:ssrchp:978-3-030-97660-6_6

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DOI: 10.1007/978-3-030-97660-6_6

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