On Determining the Optimum Replacement Pattern: A Reply

Faris, J. Edwin

doi:10.2307/1236030

Cited by 4 publications

(2 citation statements)

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“…It also contains information such as projects being planned and/or assets to be acquired, estimated investment amounts and investment periods, expected benefits and the duration thereof, and the period during which the project will be completed (Faris, 19(,0;1961).…”

Section: Gross Margin Analysis: a Partial Solutionmentioning

confidence: 99%

ECONOMIC ASPECTS OF THE OPTIMUM REPLACEMENT OF SEEDLING TEA BY HIGHER YIELDING CLONAL VARIETIES / Ekonomiese aspekte van die optimum vervanging van saadtee deur hoër opbrengs kloonvariëteite

Botha

Zÿl

1992

Agrekon

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This article concentrates on the optimal replacement of seedling tea by higher yielding clonal varieties. A hypothetical 500ha tea estate under seedling tea is used for this purpose. Representative yields, revenues, costs and replacement data with respect to the hypothetical 500ha tea estate are discussed first. This is followed by a gross margin analysis. However, as this produces only partial answers which may be misleading, a whole farm approach to the replacement problem is subsequently taken. Dynamic linear programming is used to derive economically optimal replacement strategies over a 30 year planning horizon, given certain yield and price scenarios. Some conclusions are also drawn. UittrekselEkonomiese aspekte van die optimmn vervanging van saadtee deur boer opbrengs kloonvarieteite Hierdie artikel konsentreer op die optimale vervanging van saadtee deur hoer opbrengs kloonvarieteite.'n Hipotetiese SOOha teelandgoed word vir die doel gebruik. Verteenwoordigende opbrengste, inkomstes, kostes en vervangingsdata vir die hipotetiese SOOha teelandgoed is eerstens bespreek. Dit is gevolg deur 'n bruto marge-analise. Omrede dit egter slegs parsiele antwoorde verskaf wat misleidend mag wees, is 'n geheelplaasbenadering tot die vervangingsprobleem vervolgens geneem. Dinamiese lineere programmering is gebruik om ekonomies optimaIe vervangingstrategiee oor 'n 30 jaar beplanningshorison te bepaal vir sekere opbrengs-en prysscenario's, Sekere gevolgtrekkings is ook gemaak.

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Section: Gross Margin Analysis: a Partial Solutionmentioning

confidence: 99%

ECONOMIC ASPECTS OF THE OPTIMUM REPLACEMENT OF SEEDLING TEA BY HIGHER YIELDING CLONAL VARIETIES / Ekonomiese aspekte van die optimum vervanging van saadtee deur hoër opbrengs kloonvariëteite

Botha

Zÿl

1992

Agrekon

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“…Amid the very considerable literature on the optimal replacement of assets [7,11,12,13,14,15,23,251 the inclusion of stochastic elements has generally concentrated on unintentional replacement [15]. This is a situation where an asset, be it a light bulb, a machine, a cow or a coconut tree, has unexpectedly 'died'.…”

Section: Introductionmentioning

confidence: 99%

A Stochastic Model for the Optimal Replacement of Rubber Trees

Etherington¹

1977

Australian Journal of Agricultural Economics

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Recognizing the lack of realism in optimal replacement analyses that -me constant prices and yield patterns over time, a stochastic model appropriate to rubber production is developed. Data drawn from Peninsular Malaysia are used to implement the model. The results suggest that efforts should be directed towards establishing bench mark maximum annuities as guides to more economic replanting decisions rather than emphasizing earlier replanting per se. The significance of price stabilization policies also becomes evident.

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1990

The Analysis of Response in Crop and Livestock Production

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On Determining the Optimum Replacement Pattern: A Reply

Cited by 4 publications

References 0 publications

ECONOMIC ASPECTS OF THE OPTIMUM REPLACEMENT OF SEEDLING TEA BY HIGHER YIELDING CLONAL VARIETIES / Ekonomiese aspekte van die optimum vervanging van saadtee deur hoër opbrengs kloonvariëteite

ECONOMIC ASPECTS OF THE OPTIMUM REPLACEMENT OF SEEDLING TEA BY HIGHER YIELDING CLONAL VARIETIES / Ekonomiese aspekte van die optimum vervanging van saadtee deur hoër opbrengs kloonvariëteite

A Stochastic Model for the Optimal Replacement of Rubber Trees

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