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durables 1 pre-purchase search 1 product lifecycle 1 saving on purchase 1 time horizon 1
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Book / Working Paper 1
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Malakhov, Sergey 1
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Volkswirtschaftliche Fakultät, Ludwig-Maximilians-Universität München 1
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A paradox of little pre-purchase search for durables: the trade-off between prices, product lifecycle, and savings on purchases.
Malakhov, Sergey - Volkswirtschaftliche Fakultät, … - 2012
The paper describes the microeconomic trade-off between prices, savings on purchases, and the time horizon of the consumption-leisure choice during the search for different products. When marginal costs of the search are equal to its marginal benefit, the time of search is proportional to...
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