Article ID: | iaor20011731 |
Country: | United States |
Volume: | 36 |
Issue: | 4 |
Start Page Number: | 1147 |
End Page Number: | 1170 |
Publication Date: | Jul 1998 |
Journal: | SIAM Journal on Control and Optimization |
Authors: | Zhang Q., Fleming W.H. |
Keywords: | maintenance, repair & replacement |
This paper is concerned with long-run average risk-sensitive control of production planning in a manufacturing system with machines that are subject to breakdown and repair. By using a logarithmic transformation, it is shown that the associated Hamilton–Jacobi–Bellman equation has a viscosity solution. The risk-sensitive control problem has a dynamic stochastic game interpretation. Finally, a limiting problem is obtained when the rates of machine breakdown and repair go to infinity.