On the optimality of repair-cost-limit policies

	On the optimality of repair-cost-limit policies
	Jiang, XY ; Cheng, K ; Makis, V
刊名	JOURNAL OF APPLIED PROBABILITY
	1998-12-01
卷号	35 期号:4 页码:936-949
关键词	minimal repair optimal stopping repair-cost-limit policy
ISSN号	0021-9002
英文摘要	An optimal repair/replacement problem for a single-unit repairable system with minimal repair and random repair cost is considered. The existence of the optimal policy is established using results of the optimal stopping theory, and it is shown that the optimal policy is a 'repair-cost-limit' policy, that is, there is a series of repair-cost-limit functions g(n) (t), n = 1, 2, . . . , such that a unit of age t is replaced at the nth failure if and only if the repair cost C(n, t) greater than or equal to g(n) (t); otherwise it is minimally repaired. If the repair cost does not depend on n, then there is a single repair cost limit function g(t), which is uniquely determined by a first-order differential equation with a boundary condition.
WOS研究方向	Mathematics
语种	英语
出版者	APPLIED PROBABILITY TRUST
WOS记录号	WOS:000078835500016
内容类型	期刊论文
源URL	[http://ir.amss.ac.cn/handle/2S8OKBNM/13652]
专题	中国科学院数学与系统科学研究院
通讯作者	Jiang, XY
作者单位	1.Univ Toronto, Dept Mech & Ind Engn, Toronto, ON M5S 3G8, Canada 2.Acad Sinica, Inst Appl Math, Beijing 100080, Peoples R China
推荐引用方式 GB/T 7714	Jiang, XY,Cheng, K,Makis, V. On the optimality of repair-cost-limit policies[J]. JOURNAL OF APPLIED PROBABILITY,1998,35(4):936-949.
APA	Jiang, XY,Cheng, K,&Makis, V.(1998).On the optimality of repair-cost-limit policies.JOURNAL OF APPLIED PROBABILITY,35(4),936-949.
MLA	Jiang, XY,et al."On the optimality of repair-cost-limit policies".JOURNAL OF APPLIED PROBABILITY 35.4(1998):936-949.