Stationary Equilibrium in a Market for Durable Assets

DOI10.2307/1912654zbMath0611.90021OpenAlexW4244447621WikidataQ56813307 ScholiaQ56813307MaRDI QIDQ3751321

John Rust

Publication date: 1985

Published in: Econometrica (Search for Journal in Brave)

Full work available at URL: https://ageconsearch.umn.edu/record/292594/files/uwmad-0014.PDF

zbMATH Keywords

Markov processtradingstationary equilibriumsecondary marketsdurable goodcapital theorystochastic deteriorationcompetitive rental market

Mathematics Subject Classification ID

Economic growth models (91B62) General equilibrium theory (91B50)

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Is econometrics useful for private policy making? A case study of replacement policy at an auto rental company ⋮ Demand and supply estimation biases due to omission of durability ⋮ Analysis of the asset replacement level with an uncertain salvage value: a two-factor model ⋮ Intertemporal price--quality discrimination and the Coase conjecture ⋮ Trade-in strategy for durable products in the presence of a peer-to-peer second-hand marketplace ⋮ Operational asset replacement strategy: a real options approach ⋮ Existence of stationary equilibrium in the markets for new and used durable goods

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