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Optimal equipment replacement without paradoxes: A continuous analysis

โœ Scribed by Natali Hritonenko; Yuri Yatsenko

Publisher
Elsevier Science
Year
2007
Tongue
English
Weight
149 KB
Volume
35
Category
Article
ISSN
0167-6377

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โœฆ Synopsis

Combining known continuous-and discrete-time models of equipment replacement, we show that the optimal equipment lifetime is shorter when the embodied technological change is more intense. The paper has been inspired by a paradox in the equipment replacement raised by Cheevaprawatdomrong and Smith in Oper. Res. Lett. 31 (2003).

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