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The Durability of Consumers' Durable Goods
Richard Stone
D. A. Rowe
Abstract
This paper illustrates the results obtained by adapting the model proposed by the authors in an earlier paper [6] to incorporate the method of estimating durability proposed by Nerlove [3]. It is found that in the cases examined the estimates of durability obtained in this way are very low. Possible reasons for these results are briefly indicated but are not examined empirically.
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