Article ID: | iaor20082383 |
Country: | United States |
Volume: | 54 |
Issue: | 5 |
Start Page Number: | 568 |
End Page Number: | 582 |
Publication Date: | Aug 2007 |
Journal: | Naval Research Logistics |
Authors: | Samaniego Francisco J., Dugas Michael R. |
Reliability Economics is a field that can be defined as the collection of all problems in which there is tension between the performance of systems of interest and their cost. Given such a problem, the aim is to resolve the tension through an optimization process that identifies the system which maximizes some appropriate criterion function (e.g. expected lifetime per unit cost). In this paper, we focus on coherent systems of n independent and identically distributed (iid) components and mixtures thereof, and characterize both a system’s performance and cost as functions of the system’s signature vector. For a given family of criterion functions, a variety of optimality results are obtained for systems of arbitrary order