The Impact of Machines Reliability and Maintainability on the Dynamics of Their Depreciation

S. A. Smolyak ()

Economics of Contemporary Russia, issue 3

Abstract: An ergodic model describing how the market value of equipment depends on its effective age, reliability and maintainability is provided. An unconventional treatment of known discounting and stability principles allows us to relate the market value of the equipment item with the market values of its analogues and take into account the random nature of the operation and repair processes. The proposed model explains the presence of a large number of equipment items, whose age is much higher than the standard service life.

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