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Letter to the Editor—Age Replacement with Discounting

Author

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  • Bennett Fox

    (The Rand Corporation, Santa Monica, California)

Abstract

We consider age replacement with discounting. For known failure distribution, our principal results are for the case when the failure rate is continuous and strictly increasing to ∞. We also show what happens for small discount rate. For unknown failure distribution, we give the mini-max strategy.

Suggested Citation

  • Bennett Fox, 1966. "Letter to the Editor—Age Replacement with Discounting," Operations Research, INFORMS, vol. 14(3), pages 533-537, June.
    • Handle: RePEc:inm:oropre:v:14:y:1966:i:3:p:533-537
    DOI: 10.1287/opre.14.3.533
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    Cited by:

    1. José Edmundo de Almeida Pais & Hugo D. N. Raposo & José Torres Farinha & Antonio J. Marques Cardoso & Pedro Alexandre Marques, 2021. "Optimizing the Life Cycle of Physical Assets through an Integrated Life Cycle Assessment Method," Energies, MDPI, vol. 14(19), pages 1-24, September.
    2. Joanni, A. & Rackwitz, R., 2008. "Cost–benefit optimization for maintained structures by a renewal model," Reliability Engineering and System Safety, Elsevier, vol. 93(3), pages 489-499.

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