A Constrained Replacement Model for Ships Subject to Degradations in Utility.
Abstract
In a recent paper Peter J. Kalman considers a stochastic constrained optimal replacement model using the case of ship replacement as an example. However, the development of the constrained model proposed is not pursued and the optimal interval between replacements is determined in the absence of constraints. Among other things, it is the purpose of the present paper to extend the previous results to develop explicit types of constraints for the case of ship replacement and to determine how the optimal replacement interval may change as a result of the constraints. The constraints are concerned with the state of readiness of each ship in a group of ships. Readiness is assumed to be measured on an ordinal valued utility scale. It is proposed that ordinal valued data on ship combat readiness ratings collected by the U.S. Navy may be a useful source of empirical information for a model of the type discussed. (Author)
Document Details
- Document Type
- Technical Report
- Publication Date
- Aug 01, 1973
- Accession Number
- AD0764624
Entities
People
- Seymour Kaplan
Organizations
- New York University