EQUIPMENT REPLACEMENT UNDER TECHNOLOGICAL-CHANGE

Authors
BEAN JC LOHMANN JR SMITH RL
Citation
Jc. Bean et al., EQUIPMENT REPLACEMENT UNDER TECHNOLOGICAL-CHANGE, Naval research logistics, 41(1), 1994, pp. 117-128
Citations number
16
Categorie Soggetti
Operatione Research & Management Science","Operatione Research & Management Science","Engineering, Marine
Journal title
Naval research logistics → ACNP
ISSN journal
0894069X
Volume
41
Issue
1
Year of publication
1994
Pages
117 - 128
Database
ISI
SICI code
0894-069X(1994)41:1<117:ERUT>2.0.ZU;2-1
Abstract
For infinite-horizon replacement economy problems it is common practic e to truncate the problem at some finite horizon. We develop bounds on the error due to such a truncation. These bounds differ from previous results in that they include both revenues and costs. Bounds are illu strated through a numerical example from a real case in vehicle replac ement. (C) 1994 John Wiley & Sons, Inc.