Utaka, Atsuo - In: The Journal of Business 79 (2006) 1, pp. 137-148
Durable-goods marketing has an obsolescence effect on older models. I consider two cases: commitment (where the … decision on how much to invest in marketing is made in the first period) and noncommitment (where the decision is made in the … point is that a larger obsolescence effect promotes replacement demand, driving the monopolist to spend more than is …