Durable goods and conformity
研究耐用品市场中消费者需求受他人偏好影响的现象，通过匹配模型证明均衡中总存在从众行为，且耐用品寿命越长、交易越频繁，从众动机越强。
A consumer's demand for a durable good is governed not only by his individual preferences but also by preferences of other market participants. This interdependence of preferences arises from the inevitable resale of durable goods. If most people prefer goods with certain features, original buyers conform and choose goods with these features even if they do not like them. Using a matching model, we show there is always conformity in equilibrium. The incentive to conform is strongest for long‐lived durables and for people who trade frequently. If average preferences are sufficiently strong, there is always too little conformity in equilibrium.