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The technologically intensive nature of the predictive maintenance (PdM) method restricts its use to companies with higher turnover. This research is aimed to propose a PdM model for an N-component repairable system by integrating non-homogeneous Poisson process (NHPP) models and a system...
Persistent link: https://www.econbiz.de/10012987116
This paper proposes a predictive maintenance policy using modified failure mode effect and criticality analysis (Mod-FMECA) technique. FMECA is used to identify failure modes, reasons, effects and criticality of the system (machine/plant) but in Mod-FMECA in addition to the analysis carried for...
Persistent link: https://www.econbiz.de/10012987127
The complexity of the world oil market has increased dramatically in recent years and new approaches are needed to understand, model, and forecast oil prices today. Many models have been explored and most of the papers and modeling projects referenced in this paper identify their own...
Persistent link: https://www.econbiz.de/10013081058
This paper presents a mathematical model to evaluate the risks of arbitration in contractual disputes to decide whether or not to raise an arbitration case for a claim. It adds the ingredient of a regret theory approach for taking that decision, if an amicable settlement amount is not agreed....
Persistent link: https://www.econbiz.de/10013092242
Most of predictive maintenance technologies are inaccessible to small scale and medium scale industries due to their demanding cost. This paper proposes a predictive maintenance policy using failure mode effect and criticality analysis (FMECA) and non-homogeneous Poisson process (NHPP) models...
Persistent link: https://www.econbiz.de/10014034899
In essence, any international environmental agreement (IEA) implies cooperation of a form or another. The paper seeks for logical foundations of this. It first deals with how the need for cooperation derives from the public good aspect of the externalities involved, as well as with where the...
Persistent link: https://www.econbiz.de/10010312597
A major reason behind crowding in emergency departments (ED) is non-urgent patients' visits to ED. In this paper we investigate how non-urgent ED visits are influenced by patients' imperfect perception of their urgency and their self-interested choice, and we explore interventions that can...
Persistent link: https://www.econbiz.de/10014103358
This paper analyses the decision-making processes of heterogeneous agents, when both individual preferences and group actions are taken into account. Under the assumptions of certain topologies of interactions and assuming cognitive and informational restrictions, an agent-based model is...
Persistent link: https://www.econbiz.de/10012955387
It is a stylized fact of formal mathematical modeling that a 'space' cannot be described by attempts at parameterization of distances or areas (under or above curves) that feasibly could occur within the space. Tools for parameterization of mathematical spaces, such as Set Theory, Connectedness,...
Persistent link: https://www.econbiz.de/10012892706
Economies are complicated systems encompassing micro behaviors, interaction patterns, and global regularities. Whether partial or general in scope, studies of economic systems must consider how to handle difficult real-world aspects such as asymmetric information, imperfect competition,...
Persistent link: https://www.econbiz.de/10014024389