Jacenko, Jurij; Hritonenko, Natali - Center for Operations Research and Econometrics … - 2008
The authors analyze the optimal replacement of assets under continuous and discontinuoustechnological change. They … investigate the variable lifetime of assets in an infinite-horizonreplacement problem. Due to deterioration, the maintenance cost … increases when the assetbecomes older. Because of technological change, both maintenance and new capital costsdecrease for a …