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Consumption of durable goods under ambiguity
Moreno, Othón M. - 2014
The focus of this paper is to analyze the effect that ambiguity will have on the buyer's reservation price and the value of the option to purchase the durable good with an embedded option to resell it. The agent is assumed to be risk neutral and ambiguity averse. The problem is formulated as an...
Persistent link: https://www.econbiz.de/10010243419
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Dynamic demand for new and used durable goods without physical depreciation : the case of Japanese video games
Ishihara, Masakazu; Ching, Andrew - 2016 - This draft: September 8, 2016
selling decisions. The estimation results show that potential buyers' consumption value from a game deteriorates by 50% from … the release week to the second week, and game owners' consumption value deteriorates by 22-49% after the first week of …
Persistent link: https://www.econbiz.de/10012245077
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Price Reform and Durable Goods in the Transition to a Market Economy
Agenor, Pierre-Richard - 2006
The paper examines the short- and long-term effects of price liberalization in a reforming socialist economy. The analysis is based on an optimizing framework that highlights hoarding behavior and the existence of parallel goods markets. The behavior of official and parallel market prices, stock...
Persistent link: https://www.econbiz.de/10012781717
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A Dynamic Structural Model of Endogenous Consumer Reviews in Durable Goods Markets
Ishihara, Masakazu - 2019
Consumers commonly seek information from critic and consumer reviews when new product quality remains uncertain. However, consumer reviews are endogenous and may be subject to potential biases (e.g., self-selection). In this paper, we propose a new dynamic structural model where forward-looking...
Persistent link: https://www.econbiz.de/10012903623
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Unemployment Risk, Precautionary Saving, and Durable Goods Purchase Decisions
Dunn, Wendy E. - 1999
after controlling for demographic variables. A prediction that the consumption decisions of older consumers are relatively …
Persistent link: https://www.econbiz.de/10014202887
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Income Uncertainty, Consumer Durables Investments, and Home Production : Evidence from China
Wang, Yabin; Xue, Yuhan - 2019
We investigate the effect of uncertainty on home durable purchase decisions, and empirically evaluate the efficacy of consumer durable policies under uncertainty. A model of lumpy home capital adjustment shows that elevated uncertainty leads households to adopt a cautionary perspective and...
Persistent link: https://www.econbiz.de/10014107930
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The impact of age structure on consumption in Canada
Cui, Xuan; Yu, Weiqiu - In: Journal of international business and economics : JIBE 18 (2018) 4, pp. 37-48
Persistent link: https://www.econbiz.de/10012051621
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Cyclical drivers of euro area consumption : what can we learn from durable goods?
Casalis, André; Krustev, Georgi - 2020
We study the cyclical dynamics of consumption in the euro area (EA) and the large EA countries by distinguishing … cross-country heterogeneity in how different factors (including durable-specific ones) explain consumption; (iii) the … strength of spillovers from durable to nondurable consumption, as predicted by theory, is empirically correlated with how much …
Persistent link: https://www.econbiz.de/10012197836
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The asymmetric effects of deflation on consumption spending : evidence from the great depression
Davis, Scott - In: Economics letters 130 (2015), pp. 105-108
Persistent link: https://www.econbiz.de/10011422434
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Identifying the depreciation rate of durables from marginal spending responses
Cao, Jin; Cui, Chao; Dinger, Valeriya; Holm, Martin Blomhoff - 2022
This paper presents a novel method to estimate the depreciation rate of durable goods using a combination of identified marginal and average spending shares. We apply our method to Chinese spending responses to disposable income changes induced by monetary policy in 2008-2009. The marginal...
Persistent link: https://www.econbiz.de/10012818789