Between 1954 and 1989 the seasonal variation in retail new car prices declined, while the annual percentage decline in used car prices lessened. To explain these long-term changes, this article suggests that a rise in the cost of a major model change has reduced the frequency of major model...

A rise in the relative cost of time of women has increased the demand for brand names and reduced the demand for information traditionally supplied by retailers. A theory of the optimal allocation of shopping responsibilities in a two-earner household shows that a rise in the woman's wage...

The theory of clearance sales is expanded and applied to explain why markups, markdowns, and the frequency of sales of merchandise sold by department stores have increased dramatically in recent years and why they differ across merchandise groups. Tha major theme of the paper is that the growing...