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scientific article; zbMATH DE number 1424452
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scientific article; zbMATH DE number 1424452 |
Statements
7 June 2000
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economic replacement model
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utilisation
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adjustment costs
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0.8229424
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0.8116155
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0.7959874
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0.7944148
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The author presents in as briefly as is technically feasible the essentials of the received economic replacement model. The point stressed here is that in its most general formulation the model can explain only the changes that occur in the steady state of the decision variables. In turn, to relax this limitation, the analysis extends the model in two directions. First, by incorporating explicitly a policy for utilisation, and, secondly, by recasting the model in the light of more recent developments in the theory of adjustment costs. For the entire collection see [Zbl 0927.00039].
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