Optimal Tractor Replacement: What Matters?

Gregory Perry and Clair J. Nixon

Review of Agricultural Economics, 1991, vol. 13, issue 1, 119-128

Abstract: A number of refinements are made to the classic model used in equipment replacement. This revised model is then used to analyze the importance of major variables and assumptions employed in equipment replacement analysis. The results suggest usage and repair costs have much greater influence on replacement than other factors. Most tax policy, in particular, seems to be of minor importance compared to usage and repair costs.

Date: 1991
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