Replacement of Systems and Components in Renewal Decision Problems

The lifetime of some systems is virtually independent of their components. For example, a car's lifetime depends on the general corrosion of the bodywork and its avoidance of a major accident, which are independent of the condition of the battery. We consider the replacement problem when both t...

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Bibliographische Detailangaben
Veröffentlicht in:Operations Research. - Institute for Operations Research and the Management Sciences, 1956. - 33(1985), 2, Seite 404-411
1. Verfasser: Thomas, L. C. (VerfasserIn)
Format: Online-Aufsatz
Sprache:English
Veröffentlicht: 1985
Zugriff auf das übergeordnete Werk:Operations Research
Schlagworte:Behavioral sciences Economics Mathematics Business Applied sciences
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520 |a The lifetime of some systems is virtually independent of their components. For example, a car's lifetime depends on the general corrosion of the bodywork and its avoidance of a major accident, which are independent of the condition of the battery. We consider the replacement problem when both the system and components can be replaced and the time horizon is infinite. As well as considering which type of components should we use to replace a failed one, we consider whether when a component fails, it is best to replace the whole system. 
540 |a Copyright 1985 The Operations Research Society of America 
650 4 |a Behavioral sciences  |x Psychology  |x Cognitive psychology  |x Cognitive processes  |x Decision making  |x Optimal policy 
650 4 |a Economics  |x Economic disciplines  |x Financial economics  |x Insurance  |x Insurance payouts  |x Replacement value 
650 4 |a Economics  |x Microeconomics  |x Economic costs and benefits  |x Economic costs  |x Average cost 
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650 4 |a Economics  |x Microeconomics  |x Economic costs and benefits  |x Economic costs  |x Cost efficiency 
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650 4 |a Mathematics 
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952 |d 33  |j 1985  |e 2  |h 404-411