| Article ID: | iaor19932409 |
| Country: | Israel |
| Volume: | 28 |
| Issue: | 4 |
| Start Page Number: | 843 |
| End Page Number: | 851 |
| Publication Date: | Dec 1991 |
| Journal: | Journal of Applied Probability |
| Authors: | Yeh Lam |
| Keywords: | quality & reliability |
This paper studies a repair replacement model for a stochastically deteriorating system. For the expected discounted reward case, it shows that the optimal replacement policy is of the form ‘replace at the time of the