Note---A Remark on Optimality of Control Limit Rules

Antonín Le\v{s}anovský
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Antonín Le\v{s}anovský: Mathematical Institute of the Czechoslovak Academy of Sciences, \v{Z}itná 25, 115 67 Praha 1, Czechoslovakia

Management Science, 1986, vol. 32, issue 6, 768-770

Abstract: A system with a single activated unit subject to Markovian deterioration is considered. It is shown by a numerical example that the optimality of control limit rules is not sufficient for the validity of two assertions of the paper by P. Kolesar (Kolesar, P. 1966. Minimum cost replacement under Markovian deterioration. Management Sci. 12 (9, May) 694--706.).

Keywords: 1-unit system; optimal replacement; control limit rule; average cost criterion (search for similar items in EconPapers)
Date: 1986
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Persistent link: https://EconPapers.repec.org/RePEc:inm:ormnsc:v:32:y:1986:i:6:p:768-770

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