Towards an Economic Theory of Replacement Investment

DOI10.2307/1911781zbMath0288.90018OpenAlexW2010718550MaRDI QIDQ4777017

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)

Related Items (9)

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

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