Optimal Control of a Maintenance System with Variable Service Rates

Thomas B. Crabill
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Thomas B. Crabill: The New York City-Rand Institute, New York, New York

Operations Research, 1974, vol. 22, issue 4, 736-745

Abstract: This paper examines a production system with variable repair-service rates. Considering costs dependent on the service rates and costs due to lost production, it seeks to minimize the long-run expected average cost of the system. The model is a continuous-time Markovian decision problem. The paper states sufficient conditions for eliminating from consideration certain service rates and for the existence of an optimal stationary policy from a “simple” class. It also gives an example of a nonsimple optimal policy.

Date: 1974
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Persistent link: https://EconPapers.repec.org/RePEc:inm:oropre:v:22:y:1974:i:4:p:736-745

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