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Improving the age composition of dynamic populations of manufactured items

Author

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  • Finkelstein, Maxim
  • Cha, Ji Hwan

Abstract

Populations of manufactured degrading items that are incepted into operation with a given rate are considered. To improve the age composition of these dynamic populations, the truncation of items’ lifetimes is proposed and the corresponding optimization problem is studied. The impact of shocks on the population age structures is also described. The effect of these ‘interventions’ for dynamic and static populations has not been studied in the literature.

Suggested Citation

  • Finkelstein, Maxim & Cha, Ji Hwan, 2023. "Improving the age composition of dynamic populations of manufactured items," Statistics & Probability Letters, Elsevier, vol. 201(C).
    • Handle: RePEc:eee:stapro:v:201:y:2023:i:c:s0167715223001037
    DOI: 10.1016/j.spl.2023.109879
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