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Economic Equipment Policies: An Evaluation

Vernon Smith

Management Science, 1957, vol. 4, issue 1, 20-37

Abstract: The present paper summarizes the results of a detailed empirical investigation of the theory of economic equipment policy as applied to one important kind of industrial equipment, viz line-haul truck-tractor power units. The objective of this research was to ascertain, for a type of equipment which is perhaps best suited to exact replacement analysis, the quantitative importance to the firm of following optimal policies in replacement and in the choice of equipment type. Also it was desired to compare actual with optimal policies in a concrete case.

Date: 1957
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