The Coase Problem: A Transformation of the Usual Utility Function
Given that demand for durable goods is not constant over time, we propose in this article a transformation of the utility function, which accounts for discrete time and for the effect of different levels of income in the utility of buying. With this, the original Coase paradox will collapse. The smaller the difference of the reservation prices between high income level and low income level consumers, the higher the probability of marginal cost pricing in the present.
To our knowledge, this item is not available for
download. To find whether it is available, there are three
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.
|Date of creation:||12 Mar 2003|
|Date of revision:|
|Note:||Type of Document - Tex/WordPerfect/Handwritten; prepared on IBM PC - PC-TEX/UNIX Sparc TeX; to print on HP/PostScript/Franciscan monk; pages: 6 ; figures: included/request from author/draw your own|
|Contact details of provider:|| Web page: http://18.104.22.168|
When requesting a correction, please mention this item's handle: RePEc:wpa:wuwpmi:0303003. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (EconWPA)
If references are entirely missing, you can add them using this form.