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 InfoPaper provided by U.S. Department of Justice - Antitrust Division in its series Papers with number 00-8.
Length: 33 pages
Date of creation: 2000
Date of revision:
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More information through EDIRC
COSTS ; DURABLE GOODS ; ECONOMIC EQUILIBRIUM;
Other versions of this item:
- Konishi, Hideo & Sandfort, Michael T., 2002. "Existence of stationary equilibrium in the markets for new and used durable goods," Journal of Economic Dynamics and Control, Elsevier, vol. 26(6), pages 1029-1052, June.
- 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.
- 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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