This article provides a novel method to solve continuous-time semi-Markov processes by
algorithms from discrete-time case, based on the fact that the Markov renewal function in …

In this paper we use risk management techniques to evaluate the effects of some risk factors
that affect the energy production of a wind farm. We focus our attention on three major risks …

Reliability analysis of balanced systems has become one of the hot and significant topics in
the reliability research field. As a new view for the research of balanced system, balanced …

Research on reliability indices has received considerable attention recently in the field of
reliability. In this work, two new reliability indices—multi-point bounded-covering availability …

We propose the computation of different wind energy production indicators and financial
profitability of potential wind power sites. The computation is performed by modeling the …

Discrete repairable degradation systems can be modeled by a homogeneous discrete-time
second-order semi-Markov chain with finite state space for theoretical and practical sake. In …

The computation of the dependability measures is a crucial point in many engineering
problems as well as in the planning and development of a wind farm. In this paper we …

Credit risk is one of the most important contemporary problems for banks and insurance
companies. Indeed, for banks, more than forty percent of the equities are necessary to cover …

In this work, we assess the power production of a single wind turbine and wind farm under
probabilistic distributions where wind speed and wind turbine availability are dependent on …

New algorithms for computing power moments of hitting times and accumulated rewards of
hitting type for semi-Markov processes are developed. The algorithms are based on special …