Stochastic equipment capital budgeting with technological progress
KeywordEquipment replacement; Capital budgeting; Quasi-analytical solution; Real replacement option value; Uncertain technological progress
Rights© 2013 John Wiley & Sons Ltd. This is the peer reviewed version of the following article: Adkins R and Paxson D (2014) Stochastic equipment capital budgeting with technological progress. European Financial Management. 20(5): 1031-1049., which has been published in final form at http://dx.doi.org/ 10.1111/eufm.12000. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Self-Archiving.