| Article ID: | iaor19982631 |
| Country: | Germany |
| Volume: | 45 |
| Issue: | 3 |
| Start Page Number: | 437 |
| End Page Number: | 454 |
| Publication Date: | Jan 1997 |
| Journal: | Mathematical Methods of Operations Research (Heidelberg) |
| Authors: | Dekker Rommert, Frenk H., Kleijn M. |
In this paper we discuss a general framework for single component replacement models. This framework is based on the regenerative structure of these models and by using results from renewal theory a unified presentation of the discounted and average finite and infinite horizon cost models is given. Finally, some well-known replacement models are discussed, and making use of the previous results an easy derivation of their cost functions is presented.