Optimal Replacement Policies for Rejuvenated Assets
扩展了Faustmann-Samuelson最优资产轮换模型，引入资产恢复和非恒定价格因素，通过动态控制模型分析蛋鸡强制换羽的替换策略，发现鸡蛋价格周期影响恢复或替换决策。
Abstract The Faustmann‐Samuelson solution for optimal asset rotation is extended to consider both asset rejuvenation and nonconstant prices. A dynamic theoretical model is developed in terms of an optimal control problem with discontinuous control variables, and numerical solution procedures are outlined. The model is applied to layer hen replacement where hen rejuvenation by forced molting is a common industrial practice. Results indicate a sensitivity between the decision to rejuvenate or replace a hen and the egg price cycle, suggesting a mixed rotation strategy.