A generalized equipment replacement study.
ResearchPublished 1957
A study of the functional equation technique of dynamic programming to determine the optimal age of replacement of durable machinery. The paper discusses Bellman's analytic solution of a simplified model, a computation scheme applicable to more realistic models, and various dynamic programming formulations applicable in the field of equipment replacement.
Document Details
- Copyright: RAND Corporation
- Availability: Available
- Year: 1957
- Print Format: Paperback
- Paperback Pages: 18
- Paperback Price: $15.00
- Document Number: P-1039
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Dreyfus, Stuart E., A generalized equipment replacement study. RAND Corporation, P-1039, 1957. As of October 11, 2024: https://www.rand.org/pubs/papers/P1039.html
Dreyfus, Stuart E., A generalized equipment replacement study. Santa Monica, CA: RAND Corporation, 1957. https://www.rand.org/pubs/papers/P1039.html. Also available in print form.
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