Modeling Optimal Replacement Decisions for Farm Machinery: Some Theoretical and Empirical Problems

Garnett Bradford and Donald Reid

No 279336, 1981 Annual Meeting, July 26-29, Clemson, South Carolina from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: Machine replacement research has concentrated on delineating and comparing present value (PV) and derived marginal analysis models. With such, one encounters problems in generating reliable estimates of new and used machine prices, repairs and opportunity costs. Some empirical problems may be surmounted by altering the traditional PV framework, but theoretical considerations require more comprehensive models.

Keywords: Farm; Management (search for similar items in EconPapers)
Pages: 12
Date: 1981-07
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea81:279336

DOI: 10.22004/ag.econ.279336

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