Indiana University Mathematics Journal · 1957 · 2.4K citations · 2 references
EngineeringIndustrial EngineeringDecision TheoryMarkov Decision ProcessesStochastic ProcessesMarkov ProcessesRecurrence RelationsReplacement DecisionsAsymptotic Analysis Of RecurrencesAsymptotic TheoryEquipment Replacement AnalysisMachinery ReplacementNonlinear Recurrence RelationsRecurrenceReplacement ProblemStochastic Replacement Models
The purpose of this paper is to discuss the asymptotic behavior of the sequence (f sub n(i)) generated by a nonlinear recurrence relation. This problem arises in connection with an equipment replacement problem, cf. S. Dreyfus, A Note on an Industrial Replacement Process.
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Richard Bellman · Canadian Journal of Mathematics · 1956 · 22 citations · Full text