You can’t take it with you: Asset run-down at the end of the life cycle
There are several econometric problems with the
existing evidence on asset run-down. We discuss these
problems, as well as our approach to overcoming them.
We find that whereas the usual approach for documenting
asset run-down at the end of the life cycle shows
some evidence of run-down, correcting for some important
econometric problems removes almost all traces
of asset run-down.
