search query: @indexterm leasing / total: 316
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| Author: | Huang, S. Yang, Y. Anderson, K. |
| Title: | A Theory of Finitely Durable Goods Monopoly with Used-Goods Market and Transaction Costs |
| Journal: | Management Science
2001 : NOV, VOL. 47:11, p. 1515-1532 |
| Index terms: | CONSUMER DURABLES TRANSACTION COSTS LEASING |
| Language: | eng |
| Abstract: | The authors construct a dynamic game to model a monopoly of finitely durable goods. The solution concept is Markov-perfect equilibria with general equilibria embedded in every time period. The authors' model is flexible enough to simultaneously explain or accommodate many commonly observed phenomena or stylized facts, such as concurrent leasing and selling, active secondary markets for used goods, heterogeneous consumers, endogenous consumption patterns, depreciation, an infinite time horizon, and nontrivial transaction costs. |
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