Note—A Remark on Optimality of Control Limit Rules
Management Science · 1986 · Volume 32 · Issue 6
Abstract
A system with a single activated unit subject to Markovian deterioration is considered. It is shown by a numerical example that the optimality of control limit rules is not sufficient for the validity of two assertions of the paper by P. Kolesar (Kolesar, P. 1966. Minimum cost replacement under Markovian deterioration. Management Sci. 12 (9, May) 694–706.).
Keywords
1-unit system, optimal replacement, control limit rule, average cost criterion
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