SUPPLY‐MAXIMISING AND VARIATION‐MINIMISING REPLACEMENT CYCLES OF PERENNIAL CROPS AND SIMILAR ASSETS: THEORY ILLUSTRATED BY COCONUT CULTIVATION
论文提出政策制定中常需考虑最大可持续产量而非净现值，并确定了多年生作物等分点或区间产出条件下实现最大可持续供给所需的更新周期长度，以斯里兰卡高种椰子种植为例说明。
The paper argues that maximum sustainable yields rather than net present values often need to be considered for policy and identifies the length of the replacement cycle required for maximum sustainable yield or supply in multi‐point or interval output time‐phased production conditions, such as apply to perennial crops and to similar productive processes. It enables point‐input point‐output models which have been well explored (for instance, for forestry) to be treated as special cases. A virtue of the analysis is its use of a simple technical relationship to determine the replacement rate of a perennial crop to maximise sustainable yield. The analysis is illustrated by an empirical example drawn for the cultivation of the Sri Lankan ‘tall’ variety of coconut.