Turnover of Used Durables in a Stationary Equilibrium
Download or Read eBook Turnover of Used Durables in a Stationary Equilibrium PDF written by Dmitriy Stolyarov and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle.
Author | : Dmitriy Stolyarov |
Publisher | : |
Total Pages | : 0 |
Release | : 2003 |
ISBN-10 | : OCLC:1375495463 |
ISBN-13 | : |
Rating | : 4/5 (63 Downloads) |
Book Synopsis Turnover of Used Durables in a Stationary Equilibrium by : Dmitriy Stolyarov
Book excerpt: This paper develops a dynamic model with transaction costs to determine the equilibrium resale pattern in a market for a durable good. The key result is that the probability of resale is nonmonotonic in the age of the good. Trade volume is relatively low in the very beginning and in the middle of a good's life. This result helps explain observed variations of resale rates across vintages for the U.S. market of used cars.