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A paradox of little pre-purchase search for durables: the trade-off between prices, product lifecycle, and savings on purchases

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Author Info

  • Malakhov, Sergey

Abstract

The paper describes the microeconomic trade-off between prices, savings on purchases, and the time horizon of the consumption-leisure choice during the search for different products. When marginal costs of the search are equal to its marginal benefit, the time of search is proportional to products’ lifecycles and it is inversely proportional to starting prices.

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File URL: http://mpra.ub.uni-muenchen.de/37376/
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File URL: http://mpra.ub.uni-muenchen.de/42359/
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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 37376.

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Date of creation: 11 Mar 2012
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Handle: RePEc:pra:mprapa:37376

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Related research

Keywords: durables; time horizon; product lifecycle; saving on purchase; pre-purchase search;

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  1. George J. Stigler, 1950. "The Development of Utility Theory. I," Journal of Political Economy, University of Chicago Press, vol. 58, pages 307.
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Cited by:
  1. Malakhov, Sergey, 2012. "Satisficing decision procedure and optimal consumption-leisure choice," MPRA Paper 38964, University Library of Munich, Germany.

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