Porter, Robert H. (contributor); Sattler, Peter (contributor) - 1999 - [Elektronische Ressource]
costs in the secondhand market, the volume of trade due to
specialization increases with imperfect substitutability. We … trade arises from the heterogeneity in
preferences rather than random quality. Transaction costs associated with secondhand …
gain in utility from updating their holdings, net of prices, exceeds transaction costs, consumers sell their
used goods in …