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The Poisson process of machinery degradation: Application to valuation
Пуассоновский процесс деградации машин: применение к стоимостной оценке
2020
Journal of the New Economic Association
Пуассоновский процесс деградации машин: применение к стоимостной оценке
The machinery degradation process is described by a random process in which failures occur with constant intensity, and with each failure the rate of benefits generated by the machinery item reduces by a random amount. If the machinery item begins to generate negative benefits, it is subject to decommissioning. We get explicit expressions for the average life of the machinery items and the coefficient of variation of the service life. Machine's value is determined by discounting the flow of
doi:10.31737/2221-2264-2020-48-4-3
fatcat:vw3pvkmutfgxrl3r2awf7c6wwq