Bruce, Norris; Desai, Preyas; Staelin, Richard - In: Marketing Science 25 (2006) 4, pp. 350-366
For many consumers who use loans to acquire an expensive durable such as a car, the market value of their current (used) durable is less than the outstanding loan amount. If these consumers want to replace their used durable with a new one, they might not be able to do so because of the added...