Durable goods are an important component of the business cycle. Equilibrium models of durable goods markets are made difficult by the lumpy nature of individual purchases. We show that a straight forward approximation of the distribution of durable goods holdings gives rise to a tractable equilibrium model. We analyze the case of competition as well as that of a monopoly producer. J.E.L. Classi...

AIMS The efficacy of durable polymer drug-eluting stents (DES) is delivered at the expense of delayed healing of the stented vessel. Biodegradable polymer DES aim to avoid this shortcoming and may potentially improve long-term clinical outcomes, with benefit expected to accrue over time. We sought to compare long-term outcomes in patients treated with biodegradable polymer DES vs. durable polym...

A durable purchased at time t 2 [0;1) provides a constant service ‡ow x0 in the interval [t; t + 1]. The price of the durable is reduced periodically: it is equal to p = p0=(1 + ) in the period of time [ ; + 1), 2 N, where 0. Assume that the interest rate equal to the rate of time preference: r = . Consider a consumer that at date t = 0 has no durable and a lifetime wealth w. His optimization p...

This paper extends Carroll’s (2006) endogenous grid method and its combination with value function iteration by Barillas and Fernández-Villaverde (2007) to nonconcave problems. The method is illustrated using a consumer problem in which consumers choose both durable and non-durable consumption. The durable choice is discrete and subject to non-convex adjustment costs. The algorithm yields subst...

In this paper we examine the effects of default and scarcity of collateralizable durable goods on risk-sharing. We assume that there is a large set of assets which all promise a risk-less payoff but which distinguish themselves by the collateral requirement. In equilibrium agents default and the assets have different payoffs. Assets with very low collateral requirements can be interpreted as su...

Theory suggests the financial decisions of durable goods makers can impose externalities on their consumers. Namely, the consumption stream that durable goods provide frequently depends on services provided by the manufacturer itself (e.g., warranties, spare parts availability, maintenance and upgrades). Bankruptcy of a manufacturer, or even the possibility thereof, threatens this service provi...

Enhancing or prolonging T-cell activation by monoclonal antibodies (mAbs) blocking negative signaling receptors such as CTLA4 is one approach to overcoming tumor-induced immune tolerance. Ipilimumab and tremelimumab inhibit CTLA4, prolonging antitumor immune responses and leading to durable anti-tumor effects. Treatment with these mAbs has demonstrated clinically important and durable tumor res...

Thermal modification has been developed for an industrial method to increase the biological durability and dimensional stability of wood. In this study the effects of thermal modification on resistance against softand brown-rot fungi of sapwood and heartwood of Scots pine and Norway spruce were investigated using laboratory test methods. Natural durability against soft-rot microfungi was determ...

Durability of concrete structure in marine environments is a big issue for many decades due to chloride attack. Chloride penetrates the concrete structure and accelerates the corrosion process of reinforcement which decreases the life of those structures. Also shrinkage cracks in concrete play main role for chloride penetration through concrete surface.  Many researchers tried to find easy and ...