Nearly Optimal Competitive Online Replacement Policies

@article{ElYaniv1997NearlyOC,
  title={Nearly Optimal Competitive Online Replacement Policies},
  author={Ran El-Yaniv and Richard M. Karp},
  journal={Math. Oper. Res.},
  year={1997},
  volume={22},
  pages={814-839}
}
This paper studies the online replacement problem. In this problem an online player is engaged at each time in one activity. Associated with each activity are a changeover cost and flow rate. While involved in an activity the player's budget is depleted at the activity's flow rate. The player can switch to a new activity whenever it is offered but he pays a changeover cost. The player's goal is to decide when to switch activities so that his total cost is minimized. Typical applications are… 

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