What is a replacement problem? Describe some important replacement

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Sesha Satya Chaitanya Cherukuri Profile
It is a prototypical vintage capital model of ....
1. Economic growth is developed, where the decision to replace old technologies with new ones is modeled explicitly.
2.)Technological change is investment specific only. Depreciation in this environment is an economic ,It is not a physical concept.
umesh Profile
umesh answered
It is a prototypical vintage capital model of ....
1. Economic growth is developed, where the decision to replace old technologies with new ones is modeled explicitly.
2.)Technological change is investment specific only. Depreciation in this environment is an economic ,It is not a physical concept.

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