Towards an Economic Theory of Replacement Investment

DOI10.2307/1911781MaRDI QIDQ4777017zbMATH OpenOpenAlexFDO

Authors Martin Feldstein, Michael Rothschild

Publication date 1974

Published in Econometrica (Search for Journal in Brave)

Full work available at URL https://doi.org/10.2307/1911781

Mathematics Subject Classification ID

Decision theory (91B06) Trade models (91B60)

Cited in

(9)

• Maintenance and investment: complements or substitutes? A reappraisal
• An approximate dynamic programming algorithm for monotone value functions
• Optimal replacement policy with stochastic maintenance and operation costs
• Uncertainty, dynamic conditions, and optimal investment, employment and inventory policies
• Conditional investment policy under uncertainty and irreversibility
• Optimal capital durability, technological progress and taxation
• Endogenous capital utilization and productivity measurement in dynamic factor demand models: Theory and an application to the U. S. electrical machinery industry
• A closer look at replacement investment
• Optimal capital accumulation and durable goods production

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