Burgeoning marketplace resale, threats posed by traditional retail business, and fashion potential in sustainability foreshadow the importance of second-hand retailing. Drawing on the model of goal-directed behavior, we address these questions: How does shopping for second-hand clothing...

An endogenous growth model is presented in which production uses a vector of capital inputs. Technologies for creating capital of different types vary by gestation period and productivity. Ownership of gestating capital must be "rolled over" in secondary capital markets in which transactions are...

We present a model to address in a unified manner four ways in which a monopolist can interfere with secondary markets. In the model, consumers have heterogeneous valuations for quality so that used-good markets play an allocative role. Our results are the following: (1) In contracts to Swan's...

We construct a theoretical framework to study the impact of quality standards for used durable goods on trade flows, profits and consumer welfare. We show that asymmetric quality standards generate trade in used goods from high to low standard countries while at the same time reducing trade in...

Transactions of used durables are large and cyclical, but their interaction with purchases of new durables has been neglected in business-cycle studies. I fill in this gap by introducing a new business-cycle model of durables where households resell their goods to the second-hand market and the...