Turnover of Used Durables in a Stationary Equilibrium : Are Older Goods Traded More?

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

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Year of publication:	2003
Authors:	Stolyarov, Dmitriy
Publisher:	[S.l.] : SSRN
Subject:	Transaktionskosten \| Transaction costs \| Gebrauchtmarkt \| Second-hand market \| Gebrauchtfahrzeug \| Used vehicle \| Absatz \| Sales \| Dynamische Wirtschaftstheorie \| Economic dynamics
Description of contents:	Abstract [papers.ssrn.com]

Extent:	1 Online-Ressource
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: Journal of Political Economy, Vol. 110, December 2002 Volltext nicht verfügbar
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014103197