Econometrica: Apr 1960, Volume 28, Issue 2

The Durability of Consumers' Durable Goods

https://doi.org/0012-9682(196004)28:2<407:TDOCDG>2.0.CO;2-Y
p. 407-416

D. A. Rowe, Richard Stone

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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