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Zbl 0621.60097
Aven, Terje; Gaarder, Simen
Optimal replacement in a shock model: discrete time. (English)
[J] J. Appl. Probab. 24, 281-287 (1987). ISSN 0021-9002

The authors study a system which can only fail at discrete times of shock. Replacements are only allowed at times of shocks. Defects require additional costs. The authors investigate the problem of minimizing the long run expected costs per unit time.
[H.Neffke]
MSC 2000:
*60K10 Appl. of renewal theory
60K15 Markov renewal processes

Keywords: shock model; optimal replacement; problem of minimizing the long run expected costs

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