Explicit formula of optimal replacement under additive shock processes

Keigo Yamada

Stochastic Processes and their Applications, 1980, vol. 10, issue 2, 193-208

Abstract: The optimal machine replacement problem is discussed for the case, where damage processes are general jump processes. Considering an expected average cost and an expected discounted cost, an explicit formula of optimal replacement time is shown under appropriate conditions for damage processes.

Keywords: Optimal; machine; replacement; additive; shock; processes; expected; average; cost; explicit; formula; general; jump; processes; expected; discounted; cost (search for similar items in EconPapers)
Date: 1980
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/0304-4149(80)90021-6
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:spapps:v:10:y:1980:i:2:p:193-208

Ordering information: This journal article can be ordered from
http://http://www.elsevier.com/wps/find/supportfaq.cws_home/regional
https://shop.elsevie ... _01_ooc_1&version=01

Access Statistics for this article

Stochastic Processes and their Applications is currently edited by T. Mikosch

More articles in Stochastic Processes and their Applications from Elsevier
Bibliographic data for series maintained by Catherine Liu ().