Replacement under ongoing technological progress

Autor:	Gunter P. Sharp, Eva Regnier, Craig A. Tovey
Rok vydání:	2004
Předmět:	Actuarial science Technological change Total cost media_common.quotation_subject Yield (finance) Industrial and Manufacturing Engineering Variable (computer science) Risk analysis (engineering) Service (economics) Economics Asset (economics) Constant (mathematics) media_common Cost database
Zdroj:	IIE Transactions. 36:497-508
ISSN:	1545-8830 0740-817X
DOI:	10.1080/07408170490438401
Popis:	This paper evaluates the cost savings achievable in the infinite horizon single-asset replacement problem by considering technological progress affecting assets available after multiple future replacements and allowing variable service lives. Using a simple geometric model to specify asset costs, constant service lives are shown to be suboptimal. It is shown by example that common replacement decision methods yield higher service lives for the first asset and substantially different discounted total costs for the series of assets. This effect is illustrated numerically using automobile cost data.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::33ae8837eecb718de4085f988fc1e483 https://doi.org/10.1080/07408170490438401 Zobrazit plný text záznamu Plný text ve formátu PDF Plný text ve formátu HTML
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