Existence of stationary equilibrium in the markets for new and used durable goods
AbstractWe prove the existence of stationary equilibrium in the primary and secondhand markets for an indivisible consumer durable in a general model with stochastic degradation and endogenous scrappage decisions.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Dynamics and Control.
Volume (Year): 26 (2002)
Issue (Month): 6 (June)
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Web page: http://www.elsevier.com/locate/jedc
Other versions of this item:
- Hideo Konishi & Michael Sandfort, 2000. "Existence of Stationary Equilibrium in the Markets for New and Used Durable Goods," Boston College Working Papers in Economics 450, Boston College Department of Economics.
- Konishi, H. & Sandfort, M.T., 2000. "Existence of Stationary Equilibrium in the Markets for New and Used Durable Goods," Papers 00-8, U.S. Department of Justice - Antitrust Division.
- C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
- D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
- D41 - Microeconomics - - Market Structure and Pricing - - - Perfect Competition
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