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1022 - Kellogg School of Management - Northwestern University
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1022 - Kellogg School of Management - Northwestern University
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Perhaps the paper most closely related to ours is Stokey (1979), which considers a durable goods .... present value of profits, UH = 23°: =0 5'77}? and HL = 2°; :0 St'n'lf. ..... constant for all t z 1, and that cumulative sales are concave.
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