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Popular wisdom holds that publishers revise college textbooks mainly to kill off the secondary market for used books. While this behavior might be profitable if consumers are myopic, uninformed or have high short-run discount rates (that exceed the publishers'), neoclassical authors have noted...
Persistent link: https://www.econbiz.de/10012467258
risk-taking behavior of the poor, which would not arise if temptations were either non-declining or entirely absent …
Persistent link: https://www.econbiz.de/10012462679
Temporary price reductions (sales) are common for many goods and naturally result in large increase in the quantity sold. We explore whether the data support the hypothesis that these increases are, at least partly, due to dynamic consumer behavior: at low prices consumers stockpile for future...
Persistent link: https://www.econbiz.de/10012469665
This paper develops a multiple-discrete choice model for the analysis of demand of differentiated products. Users maximize profits by choosing the number of units of each brand they purchase. Multiple-unit as well as multiple-brand purchases are allowed. These two features distinguish this model...
Persistent link: https://www.econbiz.de/10012474035
This paper derives a rational expectations, permanent income model of the demand for imported consumer durable goods. Assuming that the preferences of the representative household are addilog, our model implies that the log of the exact but unobservable utility index of permanent income must in...
Persistent link: https://www.econbiz.de/10012474513
This paper develops and tests a new set of stochastic implications of optimal consumption behavior in the presence of borrowing constraints. In a departure from previous models, the theory shows that liquidity constraints imply a distinctive intertemporal relationship between durable and...
Persistent link: https://www.econbiz.de/10012475080
This paper presents an extension of the life-cycle permanent-income model of consumption to the case of a durable good whose purchase involves lumpy trans- actions costs. Where individual behavior is concerned, the implications of the model are different in some respects from those of standard...
Persistent link: https://www.econbiz.de/10012476920
This paper studies the relations between money and other macroeconomic variables as well as excess demand in the consumption goods market for the case of China, 1954-83. We explicitly recognize the endogeneity of money in the CPE and do not impose (but instead test) some common restrictive...
Persistent link: https://www.econbiz.de/10012476926
We investigate the effects of private equity on product markets using price and sales data for an extensive number of consumer products. Following a buyout, target firms increase sales 50% more than matched control firms. Price increases--roughly 1% on existing products--do not drive this...
Persistent link: https://www.econbiz.de/10012481630
sectors are assumed to be homogeneous in their infection risk, as in Eichenbaum, Rebelo, and Trabandt (2020), endogenous …
Persistent link: https://www.econbiz.de/10012482004