tailieunhanh - Economic Replacement Policy

An abreviated version of R-224, Economic Replacemant Policy (out of print), which presents a practical guide for equipment replacement based on the comparison of present-value costs. The present study cntains the general economic principles and illustrative problem. However, those sections devoted to computational methods in R-224 are omitted because of the development, within the past five years, | . AIRFORCE PROJECT RAND RESEARCH MEMORANDUM Assigned to_ This is a working paper. It may be expanded modified or withdrawn at any time. The views conclusions and recommendations expressed herein do not necessarily reflect the official views or policies of the United States Air Force. 74e M n 1700 MAIN ST. SANTA MONICA CALIFORNIA pp. ERRATA FOR RM-2153 Economic Replacement Policy -An Abbreviated Version of R-224 By Armen Alchian Page 17 Eq. 1 third line the exponent j 1 should read j - 1. Page 17 last equation the exponent dL should read -dL. Page 18 second equation the exponent -wt should read -wT. Page 18 Eq. 3 third line dt should read dT. Page 19 second equation the exponent g n Lj w should read -g n Lj .

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