Optimal replacement strategies in capital equipment management seek to balance the economic and operational trade‐offs associated with asset renewal. This field integrates financial analysis, ...

This paper investigates the use of a discrete-time semi-Markov process to model a system that deteriorates in usage. Replacement rules that are (1) state-dependent, (2) state-age-dependent, and (3) ...

This is a preview. Log in through your library . Abstract A stochastic dynamic programming model is developed to determine optimal replacement intervals and depreciation schedules for a combine on a ...

Unfortunately, this book can't be printed from the OpenBook. If you need to print pages from this book, we recommend downloading it as a PDF. Visit NAP.edu/10766 to get more information about this ...