The prevalence of slums in large cities has been a cause of concern for policy makers. People living in slums face deprivation on several fronts and slum themselves can be seen as dwelling arrangements, which are inadequate and unfit for habitation. Several attempts have been made through a...

Replacement timing decisions of durable goods have been studied by scholars from both normative and descriptive perspectives. Normative models are based on the optimization of some utility based objective function which then suggest an optimal time for replacing a durable good. On the other...