A stochastic machine maintenance and sale problem: Results with different production functions
Author
Abstract
Suggested Citation
DOI: 10.1002/1520-6750(199308)40:53.0.CO;2-3
Download full text from publisher
References listed on IDEAS
- Rust, John, 1987. "Optimal Replacement of GMC Bus Engines: An Empirical Model of Harold Zurcher," Econometrica, Econometric Society, vol. 55(5), pages 999-1033, September.
- Malcomson, James M., 1975. "Replacement and the rental value of capital equipment subject to obsolescence," Journal of Economic Theory, Elsevier, vol. 10(1), pages 24-41, February.
- Fischer, Stanley, 1975. "The Demand for Index Bonds," Journal of Political Economy, University of Chicago Press, vol. 83(3), pages 509-534, June.
- Dov Pekelman & Edison Tse, 1980. "Experimentation and Budgeting in Advertising: An Adaptive Control Approach," Operations Research, INFORMS, vol. 28(2), pages 321-347, April.
- Gerald L. Thompson, 1968. "Optimal Maintenance Policy and Sale Date of a Machine," Management Science, INFORMS, vol. 14(9), pages 543-550, May.
- Hollis B. Chenery, 1949. "Engineering Production Functions," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 63(4), pages 507-531.
- Syrquin, Moises, 1972. "Returns to Scale and Substitutability in the Repairmen Problem," Econometrica, Econometric Society, vol. 40(5), pages 937-941, September.
- William P. Pierskalla & John A. Voelker, 1976. "A survey of maintenance models: The control and surveillance of deteriorating systems," Naval Research Logistics Quarterly, John Wiley & Sons, vol. 23(3), pages 353-388, September.
- Morton I. Kamien & Nancy L. Schwartz, 1971. "Optimal Maintenance and Sale Age for a Machine Subject to Failure," Management Science, INFORMS, vol. 17(8), pages 495-504, April.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- George C. Bitros & Elias Flytzanis, 2003. "A Rehabilitation of Economic Replacement Theory," Macroeconomics 0303009, University Library of Munich, Germany.
- George Bitros, 2010. "The theorem of proportionality in contemporary capital theory: An assessment of its conceptual foundations," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 23(4), pages 367-401, December.
- Dimitrios Koumparoulis, 2011. "The Proportionality Hypothesis in Capital Theory: an Assessment of the Literature," EuroEconomica, Danubius University of Galati, issue 27, pages 27-39, February.
- Wallace J. Hopp & Sung‐Chi Wu, 1988. "Multiaction maintenance under markovian deterioration and incomplete state information," Naval Research Logistics (NRL), John Wiley & Sons, vol. 35(5), pages 447-462, October.
- Bitros, George C., 2009. "The Theorem of Proportionality in Mainstream Capital Theory: An Assessment of its Conceptual Foundations," MPRA Paper 17436, University Library of Munich, Germany.
- Mason, Robin, 2004.
"Dividends, safety and liquidation when liabilities are long-term and stochastic,"
European Economic Review, Elsevier, vol. 48(6), pages 1179-1210, December.
- Mason, Robin, 1997. "Dividends, Safety and Liquidation when Liabilities are Long-term and Stochastic," Cambridge Working Papers in Economics 9731, Faculty of Economics, University of Cambridge.
- Bitros, George C. & Flytzanis, Elias, 2009. "Utilization and maintenance in a model with scrapping," European Journal of Operational Research, Elsevier, vol. 194(2), pages 551-573, April.
- A. Bensoussan & Q. Feng & S. P. Sethi, 2022. "Integrating equipment investment strategy with maintenance operations under uncertain failures," Annals of Operations Research, Springer, vol. 317(2), pages 353-386, October.
- Motamedi, N. & Reza Peyghami, M. & Hadizadeh, M., 2013. "A mixed integer nonlinear programming model for the optimal repair–replacement in the firm," Mathematical Social Sciences, Elsevier, vol. 66(3), pages 366-371.
- Viviana Fernández, 2002. "What Drives Replacement of Durable Goods at the Micro Level?," Documentos de Trabajo 122, Centro de Economía Aplicada, Universidad de Chile.
- Yuqian Xu & Lingjiong Zhu & Michael Pinedo, 2020. "Operational Risk Management: A Stochastic Control Framework with Preventive and Corrective Controls," Operations Research, INFORMS, vol. 68(6), pages 1804-1825, November.
- George Bitros & Elias Flytzanis, 2004. "Utilization and Maintenance in a Model with Terminal Scrapping," Macroeconomics 0411016, University Library of Munich, Germany.
- Günter J. Hitsch, 2006. "An Empirical Model of Optimal Dynamic Product Launch and Exit Under Demand Uncertainty," Marketing Science, INFORMS, vol. 25(1), pages 25-50, 01-02.
- Ian M. Dobbs, 2004. "Replacement Investment: Optimal Economic Life Under Uncertainty," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 31(5‐6), pages 729-757, June.
- Ali Dogramaci & Nelson M. Fraiman, 2004. "Replacement Decisions with Maintenance Under Uncertainty: An Imbedded Optimal Control Model," Operations Research, INFORMS, vol. 52(5), pages 785-794, October.
- Yamaguchi, Shintaro, 2010.
"The effect of match quality and specific experience on career decisions and wage growth,"
Labour Economics, Elsevier, vol. 17(2), pages 407-423, April.
- Shintaro Yamaguchi, 2007. "The Effect of Match Quality and Specific Experience on Career Decisions and Wage Growth," Department of Economics Working Papers 2007-01, McMaster University.
- Kemptner, Daniel & Tolan, Songül, 2018.
"The role of time preferences in educational decision making,"
Economics of Education Review, Elsevier, vol. 67(C), pages 25-39.
- Daniel Kemptner & Songül Tolan, 2016. "The Role of Time Preferences in Educational Decision Making," Discussion Papers of DIW Berlin 1628, DIW Berlin, German Institute for Economic Research.
- Tolan, Songül & Kemptner, Daniel, 2016. "The Role of Time Preferences in Educational Decision Making," VfS Annual Conference 2016 (Augsburg): Demographic Change 145756, Verein für Socialpolitik / German Economic Association.
- Michelle Sheran Sylvester, 2007. "The Career and Family Choices of Women: A Dynamic Analysis of Labor Force Participation, Schooling, Marriage and Fertility Decisions," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 10(3), pages 367-399, July.
- Maria Casanova-Rivas, 2008. "Dynamic Complementarities: A Computational and Empirical Analysis of Couples' Retirement Decisions," 2008 Meeting Papers 1073, Society for Economic Dynamics.
- Jeremy T. Fox, 2010.
"Estimating the Employer Switching Costs and Wage Responses of Forward-Looking Engineers,"
Journal of Labor Economics, University of Chicago Press, vol. 28(2), pages 357-412, April.
- Jeremy T. Fox, 2009. "Estimating the Employer Switching Costs and Wage Responses of Forward-Looking Engineers," NBER Working Papers 15322, National Bureau of Economic Research, Inc.
- Jeremy T. Fox, 2009. "Estimating the Employer Switching Costs and Wage Responses of Forward-Looking Engineers," Working Papers 1113, Princeton University, Department of Economics, Industrial Relations Section..
Corrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wly:navres:v:40:y:1993:i:5:p:677-696. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: https://doi.org/10.1002/(ISSN)1520-6750 .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.