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Hedging Point for Non-Markovian Piecewise Deterministic Production Processes

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Abstract

We consider a single non-markovian failure prone machine which delivers a single product. The operating policy of the machine is chosen to be of the hedging point type. In the infinite horizon limit, we calculate the position of the hedging point that minimizes a convex cost function.

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Authors and Affiliations

  1. Département de Microtechnique, Institut de Microtechnique, E.P.F.L., CH-1015, Lausanne

    Philippe Ciprut & Max-Olivier Hongler

  2. Département de Mathématiques, E.P.F.L., CH-1015, Lausanne

    Yves Salama

Authors
  1. Philippe Ciprut
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  2. Max-Olivier Hongler
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  3. Yves Salama
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Ciprut, P., Hongler, MO. & Salama, Y. Hedging Point for Non-Markovian Piecewise Deterministic Production Processes. Discrete Event Dynamic Systems 8, 365–375 (1998). https://doi.org/10.1023/A:1008349216550

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  • DOI: https://doi.org/10.1023/A:1008349216550

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