Optimal maintenance and scrapping versus the value of back ups

DOI10.1007/s10287-007-0059-7zbMath1172.90375OpenAlexW1974962131MaRDI QIDQ1031953

Franz Wirl

Publication date: 23 October 2009

Published in: Computational Management Science (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1007/s10287-007-0059-7

zbMATH Keywords

stoppingswitchingreal optionsuper contactItô-process

Mathematics Subject Classification ID

Reliability, availability, maintenance, inspection in operations research (90B25)

Uses Software

• CompEcon

Cites Work

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• Investment under uncertainty: calculating the value function when the Bellman equation cannot be solved analytically
• Super contact and related optimality conditions
• Projection methods for solving aggregate growth models