Depreciation in a Simple Regulatory Model: Reply
Several difficulties remain with the inclusion of depreciation in a regulatory model, even after Linhart's useful comments and extensions. His liquidity constraint is overly restrictive, there are difficulties in selecting the optimal discount rate(s), and the classification of a depreciation path as uniformly accelerated is incorrect.
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Volume (Year): 5 (1974)
Issue (Month): 1 (Spring)
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