Durable-Goods Monopoly with Stochastic Values
AbstractI analyze a durable-goods model that allows consumers' values to vary over time. The optimal mechanism for a monopolist is computed and compared to both the sales and leasing equilibria. I show that sales may implement the optimal strategy, and that the dominance of leasing over sales is not necessarily true. This implication is consistent with the prevalence of simple sales contracts in many markets. Copyright 2001 by the RAND Corporation.
Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Bibliographic InfoArticle provided by The RAND Corporation in its journal RAND Journal of Economics.
Volume (Year): 32 (2001)
Issue (Month): 3 (Autumn)
Contact details of provider:
Web page: http://www.rje.org
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Huan Xie, 2013.
"Bargaining with uncertain value distributions,"
AccessEcon, vol. 33(2), pages 1047-1066.
- Battaglini, Marco, 2007.
"Optimality and renegotiation in dynamic contracting,"
Games and Economic Behavior,
Elsevier, vol. 60(2), pages 213-246, August.
- Battaglini, Marco, 2005. "Optimality and Renegotiation in Dynamic Contracting," CEPR Discussion Papers 5014, C.E.P.R. Discussion Papers.
- Justin P. Johnson & David P. Myatt, 2006.
"On the Simple Economics of Advertising, Marketing, and Product Design,"
American Economic Review,
American Economic Association, vol. 96(3), pages 756-784, June.
- David P. Myatt & Justin P. Johnson, 2004. "On the Simple Economics of Advertising, Marketing, and Product Design," Economics Series Working Papers 185, University of Oxford, Department of Economics.
- Marco Battaglini, 2005.
"Long-Term Contracting with Markovian Consumers,"
American Economic Review,
American Economic Association, vol. 95(3), pages 637-658, June.
- Heyes, Anthony & Kapur, Sandeep, 2012.
"Community pressure for green behavior,"
Journal of Environmental Economics and Management,
Elsevier, vol. 64(3), pages 427-441.
- Simon Board, 2005. "Durable-Goods Monopoly with Varying Cohorts," 2005 Meeting Papers 847, Society for Economic Dynamics.
- Pasquale Schiraldi, 2009.
"Second-Hand Markets and Collusion byManufacturers of Semidurable Goods,"
STICERD - Economics of Industry Papers
48, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE.
- Pasquale Schiraldi, 2006. "Second-Hand Markets and Collusion by Manufacturers of Semidurable Goods," Boston University - Department of Economics - Working Papers Series WP2006-028, Boston University - Department of Economics.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().
If references are entirely missing, you can add them using this form.