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| Author: | Shimomura, K. |
| Title: | A dynamic equilibrium model of durable goods monopoly |
| Journal: | Journal of Economic Behavior and Organization
1998 : JAN 15, VOL. 33:3-4, p. 507-520 |
| Index terms: | MODELS ECONOMIC BEHAVIOUR CONSUMER DURABLES |
| Language: | eng |
| Abstract: | In this paper, the author contrasts a simple dynamic general equilibrium model of durable goods monopoly in a discrete time framework and shows that a revised Coase conjecture, "Monopolists are efficient under a paper tax- subsidy policy" holds even in the case of increasing marginal cost if the length of each period in the discrete model is sufficiently short. The market structure for durable consumption goods has been left virtually unexplored in the trade literature. |
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