But you could have kept waiting and prices would have kept falling. Eventually you spent your money anyway. This seems to indicate that it wasn't the situation of falling prices that prevented you from buying a TV, since that never changed, but some external factor.
Prices don't fall linearly, in many cases, but hit a floor representing the cost of manufacturing and distribution. Then, different brands have different price decay curves. Finally, the price decay of a given good has to be offset against the buyer's utility function. In practice, I don't sit there and calculate everything out; I start with a budget and a list of manufacturers I prefer, and then look for the best products that fit within those constraints.
Prices don't fall linearly, in many cases, but hit a floor representing the cost of manufacturing and distribution. Then, different brands have different price decay curves. Finally, the price decay of a given good has to be offset against the buyer's utility function. In practice, I don't sit there and calculate everything out; I start with a budget and a list of manufacturers I prefer, and then look for the best products that fit within those constraints.