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, ...

A device is subject to a series of shocks which cause damage and eventually failure will occur at the time of arrival of one of the shocks. In between the shocks, the device is partially repaired as ...

A device is subject to a series of shocks which arrive as a semi-Markov process. Shocks cause damage and eventually failure will occur at the time of arrival of one of the shocks. The device must be ...