Towards an Economic Theory of Replacement Investment

DOI10.2307/1911781zbMATH Open0288.90018OpenAlexW2010718550MaRDI QIDQ4777017FDOQ4777017

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)

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

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