MAXIMAL WEARING-OUT OF A DETERIORATING SYSTEM - AN OPTIMAL STOPPING APPROACH
| Autor(en): | STADJE, W | Stichwörter: | Business & Economics; CUMULATIVE DAMAGE MODEL; LOSS FUNCTION; Management; Operations Research & Management Science; OPTIMAL REPLACEMENT; STOPPING TIME | Erscheinungsdatum: | 1994 | Herausgeber: | ELSEVIER SCIENCE BV | Enthalten in: | EUROPEAN JOURNAL OF OPERATIONAL RESEARCH | Band: | 73 | Ausgabe: | 3 | Startseite: | 472 | Seitenende: | 479 | Zusammenfassung: | For a system which is subject to i.i.d. cumulative shocks and which breaks down after an unknown random amount of damage is exceeded, we consider the problem of when to replace the system optimally. Assuming a natural loss function, we find an optimal stopping time. Several examples are presented. |
ISSN: | 03772217 | DOI: | 10.1016/0377-2217(94)90241-0 |
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