A particularly interesting question in mathematical economics is the â€˜turnpikeâ€™ problem. There have been many papers written on the subject, bearing out Nikaidoâ€™s (1964) prediction that â€˜it willâ€¦ (More)

In this paper we explore the costs and benefits of screening programs for the human immunodeficiency virus (HIV). Because of the low prevalence rate of the virus among the general population, theâ€¦ (More)

The solution to the asset management problem is discussed. The asset management problem is formulated as an optimal control problem under uncertainty that seeks a least cost solution. A methodologyâ€¦ (More)

The local stability properties of stationary points of the modified Hamiltonian dynamic system are investigated. The modiied Hamiltonian dynamic system characterizes the optimal statecostateâ€¦ (More)

Maintenance budgeting refers to optimally allocating monetary resources so as to minimize the sum of (deterministic) preventive maintenance and (stochastic) corrective maintenance and unavailabilityâ€¦ (More)

This paper presents a unified methodology for managing an inventory of aging assets in electric utility systems. The inventory may include spares. The methodology identifies the least-cost stationaryâ€¦ (More)