Optimal dynamic durability (Q2638911)
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scientific article
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Optimal dynamic durability |
scientific article |
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Optimal dynamic durability (English)
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1990
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The authors consider a firm that adjusts its production and the choice of durability for its products instantaneously. They show that when the marginal cost with respect to durability is nonincreasing, (a) the monopolist decreases over time and (b) the monopolist will produce a good with lower durability than the competitive firm.
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choice of durability
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monopolist
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0.84426194
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0.8280946
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0.82301944
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0.8160967
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0.8096148
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