The paper analytically explores the optimal allocation of investments into mitigation and environmental adaptation against climate change damages at a macroeconomic level. The economic-environmental model is formulated as a social planner problem where adaptation and abatement investments are...

Purpose: Despite the existence of multiple asset replacement theories, the economic life replacement method remains a major practical technique for making rational machine replacement decisions. The purpose of this paper is to bridge this method with comprehensive data analytic tools and make...