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Title: |
Trade in Used Goods and Durability Choice |
| Author: |
Kim, Jae-Cheol |
| Author
Affiliation: |
Korea Advan
Inst Sci & Tech |
| Source: |
International Economic Journal, Autumn 1989, v. 3, no. 3, pp. 53-63 |
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Publication Date: |
Autumn 1989 |
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Abstract: |
This paper studies the issue of durability
choice when there are heterogeneous groups of consumers in the market.
The possibility of trade between consumers and its effects on durability
choice are examine. It is shown that neither a competitive nor a
monopolistic market realizes the social optimum globally. Swan's
"independence result" does not hold, in general. |
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