search query: @author Acar, W. / total: 6
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| Author: | Troutt, M.D. Acar, W. |
| Title: | Cash versus installment purchasing: contrasting axiomatic and experimental approaches to a new concept |
| Journal: | Omega
2003 : OCT, VOL. 31:5, p. 379-385 |
| Index terms: | Consumer behaviour Consumer credit Purchasing |
| Language: | eng |
| Abstract: | Parsimonious theoretical investigation into a commonly vexing issue, the vast discrepancy between what people are willing to pay in a lump sum and the total present value of installments to which they are willing to commit is provided in this paper. Using a concept of a "non-equivalent" for an annuity, and some simple assumptions, it is shown that there exists a personal interest rate that must be at least as high as the prevailing market interest rate. |
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