A Dynamic Replacement Economy Decision Model
作者:
R.V. Oakford,
Jackr. Lohmann,
Arturo Salazar,
期刊:
IIE Transactions
(Taylor Available online 1984)
卷期:
Volume 16,
issue 1
页码: 65-72
ISSN:0740-817X
年代: 1984
DOI:10.1080/07408178408974669
出版商: Taylor & Francis Group
数据来源: Taylor
摘要:
A generalization of Wagner's dynamic programming model for the replacement economy decision problem is presented. The model, illustrated by numerical examples, classifies relevant cash flows into three components: capital transfers, operating disbursements, and operating revenues. Conceptually, this model could be extended easily to an arbitrary number of component cash flows. Multiple alternative challengers to a current defender are considered, and each component cash flow of each challenger can vary independently according to the time of acquisition; thus differential inflation and prospective technological changes could be dealt with easily. A PASCAL implementation of the model, included as an appendix, was used to identify prospectively optimal sequences of assets in three numerical examples.
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