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
Journal: EUROPEAN JOURNAL OF OPERATIONAL RESEARCH
Volumen: 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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