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A proof of optimality for age replacement policies

Published online by Cambridge University Press:  14 July 2016

Menachem Berg
Menachem Berg*
Affiliation:
University of Sussex
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Abstract

A well-known maintenance procedure for stochastically failing units is the age replacement policy (ARP). Under the ARP a unit is replaced on failure, or when it reaches a predetermined critical age.

In previous papers concerned with this procedure the authors searched for the optimal critical age to minimize the objective function under discussion. The purpose of this paper is to prove that the ARP itself is the optimal decision rule amongst all reasonable policies.

Keywords

AGE REPLACEMENT POLICYOPTIMAL REPLACEMENT POLICYCONTINUOUS MARKOV DECISION PROCESSDYNAMIC PROGRAMMING
Type
Research Papers
Information
Journal of Applied Probability , Volume 13 , Issue 4 , December 1976 , pp. 751 - 759
Copyright
Copyright © Applied Probability Trust 1976 

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References

[1] Berg, M. and Epstein, B. (1972) Grouping of preventive maintenance policies. Proceedings of the 1972 NATO Conference on Reliability Testing and Reliability Evaluation. I–C–l–I–C–11.Google Scholar