Winter Transport via Trucks with Chains and the Fraction of Time Spent in Accidents ()
ABSTRACT
In this note, we analyze hitherto unstudied aspects of winter transport
provision via trucks with chains on tires. Specifically, we first construct a
discrete-time Markov chain (DTMC) model of transport provision that focuses on
the movements of a representative truck in a firm’s fleet of trucks. Second, we
specify the limiting probabilities of our DTMC model of truck transport. Third,
we derive the fraction of time that the representative truck is involved in
accidents. Finally, we solve an optimization problem whose solution tells us
when the fraction of time the representative truck spends in accidents, is
maximal.
Share and Cite:
Batabyal, A. (2015) Winter Transport via Trucks with Chains and the Fraction of Time Spent in Accidents.
Theoretical Economics Letters,
5, 805-809. doi:
10.4236/tel.2015.56091.
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