An availability-oriented approach has been developed to decide when to replace an aging system. For an existing system, it is optimal to operate another year if and only if the incremental cost per available year is less than the lifetime average cost per available year of a new aircraft. We...

Building on prior work on optimal replacement of aging aircraft, this paper presents three methodologies to evaluate prospective aviation Service Life Extension Programs (SLEPs) and applies these methodologies to US Navy F/A-18E/F data. While considerable uncertainty remains as to the values of...

Life care communities offer long term care to the elderly in the context of a residential community. Residents move into a life care community while still relatively young (though typically past age 65), initially occupying an independent living unit situated in a living complex similar to a...

This paper models and simulates a government-contractor principal-agent weapon system repair model. Insights are derived as to how government repair contracts should be constructed so as to induce optimal contractor behavior. The paper's general conclusion is that the best contracting approach...

Life care communities offer long term care to the elderly in the context of a residential community. Residents move into a life care community while still relatively young (though typically past age 65), initially occupying an independent living unit situated in a living complex similar to a...