Consumption, durable goods, and transaction costs
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Consumption, durable goods, and transaction costs

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Published by Federal Reserve Board in Washington, D.C .
Written in English


Book details:

Edition Notes

StatementRobert F. Martin.
SeriesInternational finance discussion papers ;, no. 756, International finance discussion papers (Online) ;, no. 756.
Classifications
LC ClassificationsHG3879
The Physical Object
FormatElectronic resource
ID Numbers
Open LibraryOL3390379M
LC Control Number2004620051

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Dynamic Demand for New and Used Durable Goods without Physical results show that the consumption value of owners depreciates much faster than that of potential buyers, and future prices of new and used goods and resale values of used goods, (iv) transaction costs of buying and selling used goods, (v) the impact of used goods. Our model is flexible enough to simultaneously explain or accommodate many commonly observed phenomena or stylized facts, such as concurrent leasing and selling, active secondary markets for used goods, heterogeneous consumers, endogenous consumption patterns, depreciation, an infinite time horizon, and nontrivial transaction by: Factors Affecting Used Goods Markets The development of Internet-based markets has put downward pressure on transaction costs not only in used goods markets, but also more broadly. In the stock market (which can be con-sidered a second-hand market), the introduction of on-line trading has brought a significant re-duction in brokerage Size: KB. 5. In national income accounting, consumption expenditures include: A. purchases of both new and used consumer goods. B. consumer durable goods and consumer nondurable goods, but not services. C. consumer durable goods, consumer nondurable goods, and services. D. .

This paper considers the optimal consumption and investment policy for an investor who has available one bank account paying a fixed interest rate and n risky assets whose prices are log-normal diffusions. We suppose that transactions between the assets incur a cost proportional to the size of the by: Downloadable! We investigate an optimal investment-consumption and optimal level of insurance on durable consumption goods with a positive loading in a continuous-time economy. We assume that the economic agent invests in the financial market and in durable as well as perishable consumption goods to derive utilities from consumption over time in a jump-diffusion : Jin Sun, Ryle S. Perera, Pavel V. Shevchenko. Durable information goods. When discussing durable information goods, an example would be a book because this item would be able to last a long time and many people could obtain the information. This book can be passed down to many generations in a family. An even better example of an information durable good is an online website. Book/Printed Material Consumption, durable goods, and transaction costs "We study consumption of durable and nondurable goods when the durable good is subject to transaction costs. In the model, agents derive utility from a service flow of a durable good and.

Dynamic Demand for New and Used Durable Goods without Physical Depreciation: The Case of Japanese Video Games the consumption value of owners depreciates much faster than that of potential buyers, and Transaction Costs, Satiation, Discount Factor, Bayesian Estimation.   Economist Michael Munger’s new book, Tomorrow Transaction Costs and the Sharing Economy, explains how the growing ability for middlemen to sell reductions in transaction costs is transforming the way that we consume, live, and ing to Munger, we can reduce transaction costs by overcoming 3 types of obstacles: triangulation, transfer, and trust. Consumption, durable goods, and transaction costs "We study consumption of durable and nondurable goods when the durable good is subject to transaction costs. In the model, agents derive utility from a service flow of a durable good and Contributor: Martin, Robert F. Date: Abstract: We study consumption of durable and nondurable goods when the durable good is subject to transaction costs. In the model, agents derive utility from a service flow of a durable good and a consumption flow of a nondurable good. The key feature of the model is the existence of a fixed transaction cost in the durable good market.