A geometric process equivalent model for a multistate degenerative system

A geometric process equivalent model for a multistate degenerative system

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Article ID: iaor20031890
Country: Netherlands
Volume: 142
Issue: 1
Start Page Number: 21
End Page Number: 29
Publication Date: Oct 2002
Journal: European Journal of Operational Research
Authors: , ,
Abstract:

In this paper, a monotone process model for a one-component degenerative system with k+l states (k failure states and one working state) is studied. We show that this model is equivalent to a geometric process model for a two-state one component system such that both systems have the same long-run average cost per unit time and the same optimal policy. Furthermore, an explicit expression for the determination of an optimal policy is derived.

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