In this paper, a general, framework for replacement modeling assumptions is introduced. This framework involves the classification of assumptions into the four major categories of structural, realistic, descriptive, and simplifying (limiting) assumptions. Examples of assumptions from the literature on replacement modeling are then grouped into these four major categories. It is contended that this proposed framework assists the analyst in understanding existing replacement models and facilitates new model construction.
|Original language||English (US)|
|Number of pages||11|
|State||Published - Jan 1 1986|
All Science Journal Classification (ASJC) codes
- Economics and Econometrics