English (United Kingdom)

https://curated-unify.zendy.io/wp-json/zendy-region/v1/featured_content/oa?rat=en

https://curated-unify.zendy.io/wp-json/zendy-region/v1/highlighted_journal/

Zendy Plus

Presents the access of premium content as premium feature

Premium Content

Presents the keyphrase highlighting as premium feature

Keyphrase Highlighting

Presents the summarisation as premium feature

Summarisation

Insights

Presents the pdf analysis as premium feature

PDF Analysis

Presents the zaia usage as premium feature

ZAIA

Zendy Tools

Zendy Open

The paper introduces,preference persistence into a dynamic,discrete choice model,of demand for durables. This persistence may arise, for example, when the products can be categorized into a few number of formats, which involve special knowledge, maintenance and upgrade. The standard,optimal stopping problem,of when,to buy a new,product is completed,by the upgrade problem: customers who already have a product may choose to upgrade it, but this upgrade is format specific. Hence, the expected future upgrade qualities of different formats must be taken into account already at the purchase decision of a new product. The model is estimated on a data set of low-end computer servers, where formats are represented by operating systems. For this application, the model can be considered as a proxy of a computer network building customer who cares not only about the likely future quality of the individual computers, but also about the direction of evolution of the network. That induces even stronger forward,looking behavior than a simple optimal stopping,problem. The results suggest that the model,is better able to capture main,tendencies in the segment,than a static or a simple optimal stopping model. Keywords: preference persistence, differentiated durables, Markov process, computer servers JEL classification: C33, D12, D91, L63 1,Introduction The choice of as pecific durable good very often includes the choice of a more,broadly defined

Persistence Effects in a Dynamic Discrete Choice Model: Application to Low-End Computer Servers