A Study Of Durable Goods Consumption With Markov Skeleton Processes Aproach

In the thesis, the author analyzes the (S,s) model of durable goods consumption with Markov skeleton processes and discusses the consumer behavior in perchasing durable goods.In chapter 3, the author sets up the general Markov skeleton process (S,s) model for durable goods consumption with continuous state space under the assumption of stochastic depreciation rate. And then gets the more detailed model with the application of Markov switching method for the stochastic depreciation rate. Third the author sets the Markov skeleton process (S,s) model of durable goods under discrete state space and find the transition probability for durable goods to the trigger point of purchase. And finally the author analyzes the durable goods consumption with continuous time Q process theoryIn chapter 4, the author extends the model in the previous chapter by relaxing some assumptions and sets up the Markov skeleton process (S,s) model for durable goods consumption with economic growth and with wealth changes.In chapter 5 and chapter 6, the author turns from the individual consumer's begavior to aggregate behavior of durable goods consumption. In chapter 5 the author sets the macroeconomic model of durable goods consumption with (S,s) rule and characterizes the macroeconomic behavior for durable goods consumption.In chapter 6, the author discusses dynamic aggregate behavior of durable goods consumption. The author utilizes the method of statistical mechanics to anlysize the evolotion of statistical distribution of all consumer durables in the different steps of depreciation from which the author gets the evolution of demand for durable goods.