The Effect of Usage and Size on Tractor Depreciation

Gregory M. Perry · Ahmet Bayaner · Clair J. Nixon

39 citations0/0 files storedAmerican Journal of Agricultural Economics

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Agricultural economics and policies Agricultural Engineering and Mechanization Agricultural Economics and Policy

Abstract

Abstract An econometric model was estimated to explain prices for tractors sold at auction. Tractor age, hours of use, size, and condition were statistically significant explanatory variables. Real tractor depreciation most closely approximated a sum‐of‐the‐years digits pattern. Tractors sold at consignment and bankruptcy auctions brought a lower price than tractors sold by retiring farmers. High levels of usage did not greatly reduce tractor value, but tractors with low annual usage brought substantial premiums in the auction market.

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References

1936The General Theory of Employment, Interest and Money.1953American Society of Agricultural Engineers Status changed from an Associated to an Affiliated Society, AAAS 1981The estimation of economic depreciation using vintage asset prices 1968Technical Change and Capital from the Point of View of the Dual 1983On Optimal Replacement of Farm Tractors

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