| Article ID: | iaor2005463 |
| Country: | Netherlands |
| Volume: | 33 |
| Issue: | 1 |
| Start Page Number: | 26 |
| End Page Number: | 34 |
| Publication Date: | Jan 2005 |
| Journal: | Operations Research Letters |
| Authors: | Anisimov Vladimir V. |
| Keywords: | markov processes |
An asymptotic analysis of stochastic block replacement policies for a multicomponent system with fast Markov switches is provided. It is proved that this system can be approximated by a simpler system with exponential failures and averaged failure rates. The optimality of the long-run cost function is studied, as well.