Structured replacement policies for a Markov-modulated shock model

Authors:
Murat Kurt;Lisa M. Maillart
Affiliations:
Department of Industrial Engineering, University of Pittsburgh, United States;Department of Industrial Engineering, University of Pittsburgh, United States
Venue:
Operations Research Letters
Year:
2009

Citing 1
Cited 1

Markov Decision Processes: Discrete Stochastic Dynamic Programming

Markov Decision Processes: Discrete Stochastic Dynamic Programming

Monotone optimal replacement policies for a Markovian deteriorating system in a controllable environment

Operations Research Letters

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Abstract

We establish the optimality of structured replacement policies for a periodically inspected system that fails silently whenever the cumulative number of shocks, or the magnitude of a single shock it has received, exceeds a corresponding threshold. Shocks arrive according to a Markov-modulated Poisson process which represents the (controllable or uncontrollable) environment.