This paper specifies and estimates a dynamic model of consumer preferences for new durable goods with persistent heterogeneous consumer tastes, rational expectations about future products and repeat purchases over time. Most new consumer durable goods, particularly consumer electronics, are...

We discuss prospects for innovation in consumer payment instruments. We discuss recent research into consumer payments and what can be learned about consumer behavior towards new payment options. We consider three new innovations in payments: mobile payments, faster payments and digital...

Most new consumer durable goods experience rapid prices declines and quality improvements, suggesting the importance of modeling dynamics. This paper specifies a dynamic model of consumer preferences for new durable goods with persistently heterogeneous consumer tastes, rational expectations,...

We discuss prospects for innovation in consumer payment instruments. We discuss recent research into consumer payments and what can be learned about consumer behavior towards new payment options. We consider three new innovations in payments: mobile payments, faster payments and digital...

Most new consumer durable goods experience rapid prices declines and quality improvements, suggesting the importance of modeling dynamics. This paper specifies a dynamic model of consumer preferences for new durable goods with persistently heterogeneous consumer tastes, rational expectations,...