Summary
We examine the problem of optimal stopping in terminating one-sided processes. The Markov and the semi-Markov cases are considered. Applications to reliability theory are given.
Zusammenfassung
Thema dieses Beitrages ist die Bestimmung eines optimalen Stoppzeitpunktes für zwei spezielle Markov-Prozesse sowie die Betrachtung von zwei zugehörigen Anwendungen in der Zuverlässigkeitstheorie.
This is a preview of subscription content, log in via an institution to check access.
Similar content being viewed by others
References
Dynkin, E.B.: Markov Processes I. New York 1965.
Feller, W.: An Introduction to Probability Theory and its Applications II. New York 1971.
Taylor, H.M.: Optimal Replacement Under Additive Damage and Other Failure Models. Naval Research Logistics Quarterly22, 1975, 1–18.
Zuckerman, D.: Optimal Replacement Policy for the Case Where the Damage Process is a One-Sided Levy Process. Stochastic Processes and Their Applications7, 1978a, 141–151.
—: Optimal Stopping in a Semi-Markov Shock Model. J. Appl. Prob.15, 1978b, 629–634.
Author information
Authors and Affiliations
Additional information
On leave to the J.L. Kellogg Graduate School of Management, Northwestern University, Evanston, Illinois 60201, USA.
Rights and permissions
About this article
Cite this article
Zuckerman, D. Optimal stopping in terminating one-sided processes with unbounded reward functions. Zeitschrift für Operations Research 24, 145–153 (1980). https://doi.org/10.1007/BF01919242
Received:
Revised:
Issue Date:
DOI: https://doi.org/10.1007/BF01919242