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Applications of Signatures in Reliability Economics

Part of the International Series In Operations Research & Management Science book series (ISOR, volume 110)

It is difficult to give a succinct description of the field of Reliability Economics. At present, the field might be thought of as a somewhat scattered collection of results in which a decision is made or an action is taken with a view toward balancing the natural tension that exists between the performance of a system and its cost. In assessing the performance characteristics of a particular system design, for instance, one’s goal would be to identify a system whose performance is good but whose cost is modest. Three imposing challenges immediately arise in seeking to address a problem in Reliability Economics analytically. One must begin by identifying a reasonable way of quantifying the performance of each system under consideration (perhaps all possible systems of a given size).

Keywords

Optimal System Criterion Function Parallel System Mixed System Signature Vector 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer Science+Business Media, LLC 2007

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