Term:
One-hoss shay
Definition:
A model of depreciation, in which the durable delivers the same services for each vintage: a chair is a chair, no matter what its age (until it falls to pieces and is scrapped). Also known as the light bulb model of depreciation.
Domain:
Economics & National Accounts
Source:
ILO, IMF, OECD, Eurostat, UNECE, World Bank, 2004, Consumer Price Index Manual: Theory and Practice, International Labour Office, Geneva
