Semiparametric Bayesian optimal replacement policies: application to railroad tracks
Sign Up to like & getrecommendations! Published in 2017 at "Applied Stochastic Models in Business and Industry"
DOI: 10.1002/asmb.2210
Abstract: We present a Bayesian decision theoretic approach for developing replacement strategies. In so doing, we consider a semiparametric model to describe the failure characteristics of systems by specifying a nonparametric form for cumulative intensity function… read more here.
Keywords: replacement; railroad tracks; optimal replacement; semiparametric bayesian ... See more keywords
Optimal replacement policy under cumulative damage model and strength degradation with applications
Sign Up to like & getrecommendations! Published in 2021 at "Annals of Operations Research"
DOI: 10.1007/s10479-021-04080-6
Abstract: In many real-life scenarios, system failure depends on dynamic stress-strength interference, where strength degrades and stress accumulates concurrently over time. In this paper, we consider the problem of finding an optimal replacement strategy that balances… read more here.
Keywords: time; strength; replacement; cumulative damage ... See more keywords