New results on online replacement problem

Authors:
Yinfeng Xu;Chunlin Xin;Fanglei Yi
Affiliations:
School of Management, Xi’an Jiaotong University, Xi’an, ShaanXi, P.R. China;School of Management, Xi’an Jiaotong University, Xi’an, ShaanXi, P.R. China;School of Management, Xi’an Jiaotong University, Xi’an, ShaanXi, P.R. China
Venue:
WINE'05 Proceedings of the First international conference on Internet and Network Economics
Year:
2005

Citing 6
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Abstract

The replacement problems are extensively studied from a number of disciplines including economics, finance, operations research, and decision theory. Much of previous theoretical work is “Bayesian”. In this paper, we restudy the on-line replacement problem by using the competitive analysis. The goal is to minimize the total cost of cumulative payment flow plus changeover costs. Firstly, a refusal strategy is proposed and the competitive ratio for k=1 is obtained. Furthermore, a new time-independent strategy Snew is presented and we prove that it is r-competitive when M∈[c,d]. Finally, weights are introduced to the original model and some results are achieved.