Letter to the Editor—Age Replacement with Discounting

1 June 1966

journal article
Published by Institute for Operations Research and the Management Sciences (INFORMS) in Operations Research

Vol. 14 (3) , 533-537
https://doi.org/10.1287/opre.14.3.533

Abstract

We consider age replacement with discounting. For known failure distribution, our principal results are for the case when the failure rate is continuous and strictly increasing to ∞. We also show what happens for small discount rate. For unknown failure distribution, we give the mini-max strategy.

Keywords

EDITOR
HAPPENS
GIVE
MINI
STRICTLY
LETTER
AGE REPLACEMENT
DISCOUNTING WE CONSIDER

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