Burdett-Judd Redux

James Albrecht

No 985, 2015 Meeting Papers from Society for Economic Dynamics

Abstract: We consider a dynamic version of the Burdett-Judd model that features consumer heterogeneity in a market for a semi-durable good. We demonstrate the existence of nonstationary equilibria in which "normal" periods of high prices are followed by a single period of "sales" prices.

Date: 2015
New Economics Papers: this item is included in nep-dge
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Persistent link: https://EconPapers.repec.org/RePEc:red:sed015:985

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