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| Author: | Matsuo, H. |
| Title: | A modified approach to the replacement of an existing asset |
| Journal: | Engineering Economist
1988 : WINTER, VOL. 33:2, p.109-120 |
| Index terms: | STRATEGY MAINTENANCE MARGINAL COSTING |
| Language: | eng |
| Abstract: | A procedure is developed to replace an existing asset which has an arbitrary marginal or year-by-year cost. The procedure provides a set of alternative strategies for the owner of the asset, which enables the owner to make trade-offs between viable strategies. An acceptable strategy which has a minimum cost is an optimal strategy. The proposed procedure provides both an optimal strategy and other acceptable strategies. Since the procedure does not make use of equivalent uniform costs for the existing asset, computational labor is significantly reduced. Comparisons with two other methods are made. |
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