Optimal equipment replacement without paradoxes: A continuous analysis

DOI10.1016/J.ORL.2006.03.001MaRDI QIDQ2643804zbMATH OpenOpenAlexFDO

Authors Natali Hritonenko, Yuri Yatsenko

Publication date 27 August 2007

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

Full work available at URL https://doi.org/10.1016/j.orl.2006.03.001

zbMATH Keywords

equipment lifetimeinfinite horizon optimizationmachine replacement modelstechnological changevintage capital models

Mathematics Subject Classification ID

Reliability, availability, maintenance, inspection in operations research (90B25) Applications of mathematical programming (90C90)

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Cites work

• A model for equipment replacement due to technological obsolescence
• A model for parallel machine replacement with capacity expansion
• A paradox in equipment replacement under technological improvement
• A parallel machine replacement model
• Applied mathematical modelling of engineering problems
• Integral-functional equations for optimal renovation problems
• Maximum principle for Volterra integral equations with controlled delay time
• Modeling and optimization of the lifetime of technologies
• On the Optimality of an Equal Life Policy for Equipment Subject to Technological Improvement
• Planning Horizon Procedures for Machine Replacement Models
• Replacement and the rental value of capital equipment subject to obsolescence
• Replacement echoes in the vintage capital growth model
• Structure of optimal trajectories in a nonlinear dynamic model with endogenous delay
• The optimal lifetime of capital equipment
• Turnpike and optimal trajectories in integral dynamic models with endogeneous delay

Cited in

(14)

• Hybrid approach to the rational management of machine replacement
• Anticipation echoes in vintage capital models
• The optimal lifetime of capital equipment
• A paradox in equipment replacement under technological improvement
• Infinite horizon optimality criteria for equipment replacement under technological change
• Optimization of the lifetime of capital equipment using integral models
• Discrete-continuous analysis of optimal equipment replacement
• A multi-stage two-machines replacement strategy using mixture models, Bayesian inference, and stochastic dynamic programming
• THE OPTIMAL LIFETIME OF ASSETS UNDER UNCERTAINTY IN THE RATE OF EMBODIED TECHNICAL CHANGE
• Dynamic programming approaches for equipment replacement problems with continuous and discontinuous technological change
• 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
• The dynamics of asset lifetime under technological change
• Integral equation of optimal replacement: analysis and algorithms

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