Optimal replacement policy with stochastic maintenance and operation costs

DOI10.1016/0377-2217(90)90317-5zbMATH Open0689.90040OpenAlexW2037348325MaRDI QIDQ582201FDOQ582201

Authors Meng-Hua Ye 

Publication date 1990

Published in European Journal of Operational Research (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/0377-2217(90)90317-5

zbMATH Keywords

Wiener processoptimal stoppingmaintenancestochastic processequipment replacementexpected total discounted cost

Mathematics Subject Classification ID

Reliability, availability, maintenance, inspection in operations research (90B25) Stopping times; optimal stopping problems; gambling theory (60G40)

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Cites work

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• Minimum Cost Replacement Under Markovian Deterioration
• Optimal Replacement Rules when Changes of State are Semi-Markovian
• Optimal Stopping of the Integral of a Wiener Process
• Repeated stochastic tree problems
• The Decision to Repair or Scrap a Machine
• The Optimum Repair Limit Replacement Policies
• Towards an Economic Theory of Replacement Investment

Cited in

(20)

• Equipment life time optimization with respect to operational expenses
• Specifying measurement errors for required lifetime estimation performance
• Replacement Decisions with Maintenance Under Uncertainty: An Imbedded Optimal Control Model
• Optimal maintenance and scrapping versus the value of back ups
• Availability maximization under partial observations
• Optimal cost and policy for a Markovian replacement problem
• scientific article; zbMATH DE number 1150400 (Why is no real title available?)
• Extended optimal replacement model with random minimal repair costs
• Replacement decisions with multiple stochastic values and depreciation
• Stochastic comparison of maintenance policies
• Production-Inventory with Equipment Replacement—PIER
• Optimal Replacement of GMC Bus Engines: An Empirical Model of Harold Zurcher
• Asset retirement with infinitely repeated alternative replacements: harvest age and species choice in forestry
• Conditional investment policy under uncertainty and irreversibility
• Repeated real options: optimal investment behaviour and a good rule of thumb
• Analysis of the asset replacement level with an uncertain salvage value: a two-factor model
• On parallel machine replacement problems with general replacement cost functions and stochastic deterioration
• The effect of tax depreciation on the stochastic replacement policy
• scientific article; zbMATH DE number 4012290 (Why is no real title available?)
• Operational asset replacement strategy: a real options approach

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