| Author: | Curkowski, J. |
| Title: | Optimal replacement of durable equipment in heat transmission systems |
| Journal: | Engineering Economist
1996 : FALL, VOL. 42:1, p.19-38 |
| Index terms: | HEATING AND VENTILATING INDUSTRY EQUIPMENT REPLACEMENT |
| Language: | eng |
| Abstract: | In this paper, the issue of maintaining an optimal level of services provided by heat transmission systems working in indefinite time is analysed. In such systems, a stable level of services can be preserved only if parts of the heat transmission pipelines are periodically replaced. It is shown that the replacement policies that maximize total discounted net benefits in indefinite time are stationary (i. e., intervals of the pipelines of the same length have to be replaced in each period). |
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