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Patterns of trade in the market for used durables : theory and evidence

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Patterns of trade in the market for used durables : theory and evidence

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Patterns of Trade in the Market for Used Durables : Theory and Evidence

Porter, Robert H. - 1999

The consumption value of a durable good diminishes as it ages due to physical deterioration and consumers' preference for the new. We develop a model of consumer specialization and trade in the market for used durables based on imperfect substitutability. Imperfect substitutability across...

Persistent link: https://www.econbiz.de/10012471645