A paradox in equipment replacement under technological improvement

DOI10.1016/S0167-6377(02)00153-0zbMath1037.90510OpenAlexW2086078426MaRDI QIDQ1870011

Torpong Cheevaprawatdomrong, Robert L. Smith

Publication date: 4 May 2003

Published in: Operations Research Letters (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/s0167-6377(02)00153-0

zbMATH Keywords

Technological changeAdoption of new technologyEquipment replacementInfinite horizon optimization

Mathematics Subject Classification ID

Reliability, availability, maintenance, inspection in operations research (90B25)

Related Items (10)

Optimal equipment replacement without paradoxes: A continuous analysis ⋮ An optimal control problem for the maintenance of a machine ⋮ An Extended Asset Replacement Model: Impacts of Taxation, Inflation and Technological Advancement on Optimal Asset Duration ⋮ Infinite horizon optimality criteria for equipment replacement under technological change ⋮ Discrete-continuous analysis of optimal equipment replacement ⋮ Quasi-analytical solution of an investment problem with decreasing investment cost due to technological innovations ⋮ The dynamics of asset lifetime under technological change ⋮ Integral equation of optimal replacement: analysis and algorithms ⋮ Fleet replacement under technological shocks ⋮ Hybrid approach to the rational management of machine replacement

Cites Work

• A model for equipment replacement due to technological obsolescence
• Technical Note—A Dual Machine Replacement Model: A Note on Planning Horizon Procedures for Machine Replacements
• Planning Horizon Procedures for Machine Replacement Models
• On the Optimality of an Equal Life Policy for Equipment Subject to Technological Improvement
• Equipment replacement under technological change
• Planning horizon procedures for machine replacement models with several possible replacement alternatives

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