Article ID Journal Published Year Pages File Type
1143183 Operations Research Letters 2007 6 Pages PDF
Abstract

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).

Keywords
Related Topics
Physical Sciences and Engineering Mathematics Discrete Mathematics and Combinatorics
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Optimal equipment replacement without paradoxes: A continuous analysis
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