In the case of an infinitely postponable
project, such as that discussed in Ingersoll and Ross (1992) and Ross (1995), RV is zero.
Although the decision of the Missouri Supreme Court is potentially ambiguous on some points, clearly the intention was to make it virtually impossible for a postponable
death to occur early, at least for incompetent persons.
We asked our technologists to vote on whether they considered the projects essential, important but not essential, postponable
, or not worth doing.
This sensitivity is at least in part because investment projects are often postponable
to a time when economic conditions are more favorable.
"Area rugs and furniture are really postponable
Furniture is an infamously postponable
purchase, and negative economic factors tend to push the category further down on the consumer's wish list.
It suggests to us that there is some inherent floor to demand for home furnishings that, although it is postponable
, as we've witnessed over the past few quarters, it will eventually be compensated for in a "catch-up" period.
Interest sensitive purchases tend to be more postponable
then other domestic spending and would likely fall relatively quickly as interest rates spiked.
"Home furnishing items are postponable
purchases," he said.
[Furniture] has always been a postponable
item and the consumer is feeling a bit nervous right now."
It's a postponable
purchase, so we're building pent-up demand.
"Even though our industry holds up fairly well during downswings, [furniture] is still a postponable
purchase," said Joel Havard, vice president of equity research for BB&T Capital Markets' Furnishings Group.
"We're one of the most postponable
purchases and I think it finally just got down to our turn."