A unified treatment of single component replacement models

Hans Frenk, Rommert Dekker and Marcel Kleijn

Mathematical Methods of Operations Research, 1997, vol. 45, issue 3, 437-454

Abstract: In this paper we discuss a general framework for single component replacement models. This framework is based on the regenerative structure of these models and by using results from renewal theory a unified presentation of the discounted and average finite and infinite horizon cost models is given. Finally, some well-known replacement models are discussed, and making use of the previous results an easy derivation of their cost functions is presented. Copyright Physica-Verlag 1997

Keywords: Maintenance; Renewal Theory; Cost Intensity Function (search for similar items in EconPapers)
Date: 1997
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Working Paper: A unified treatment of single component replacement models (1996)
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DOI: 10.1007/BF01194789

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