A METHODOLOGY FOR DURABLE ASSET REPLACEMENT DECISIONMAKING
Alan E. Baquet
No 283633, 1978 Annual Meeting, August 6-9, Blacksburg, Virginia from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)
Durable asset replacement theory typically assumes (1) a constant conversion rate between the stock of the asset and its flow of services and (2) perfectly substitutable services from either asset. A methodology is presented which relaxes both assumptions. The variable usage rate for the asset becomes an important determinant of replacement.
Keywords: Risk; and; Uncertainty (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea78:283633
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