Technical Note—Optimal Readjustment Intervals

M. R. Wolff and R. Subramanian
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M. R. Wolff: The University of Bonn, Bonn, Germany
R. Subramanian: The University of Bonn, Bonn, Germany

Operations Research, 1974, vol. 22, issue 1, 191-197

Abstract: This note considers systems subject to stochastic initial runtime cost immediately after a renewal and a deterministically increasing operating cost rate thereafter. The problem of establishing the cost-optimal renewal rule is generally set up as a readjustment problem. Using renewal-theoretic results, the note formulates and solves the general readjustment problem for self-contained systems. In the case of a linear cost rate, it gives the complete solution.

Date: 1974
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Persistent link: https://EconPapers.repec.org/RePEc:inm:oropre:v:22:y:1974:i:1:p:191-197

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