Abstract
We consider a Markovian l-unit system which is subject to shocks causing it to deteriorate in each of its stochastically dependent components. The net reward produced by the system is assumed to be an l-dimensional function of the amounts of deterioration of the components. After every shock the controller has the option to replace the system by a new one. The objective is to maximize the long-run average reward. Under natural conditions we prove the existence of an optimal control-limit policy and the unimodality of the long-term reward as a function of the threshold value.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
