The Value and Depreciation of Existing Facilities: The Case of Reservoirs
作者:
JayR. Lund,
期刊:
The Engineering Economist
(Taylor Available online 1989)
卷期:
Volume 35,
issue 1
页码: 1-24
ISSN:0013-791X
年代: 1989
DOI:10.1080/00137918908903000
出版商: Taylor & Francis Group
数据来源: Taylor
摘要:
The value of an asset is determined by the net economic value of its production over time. This value is summarized by the net present value of all present and future production. Change in asset value, depreciation or appreciation, results from both changes in the economic value of each unit of production and the asset's physical productivity. A theory of depreciation expressing this approach is derived from first principles of engineering economics. The asset's initial fabrication cost is not directly relevant to determining its net economic value once the asset exists. The theory is illustrated for the case of water resource reservoirs
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