Annual miles drive used car prices
Engers, Maxim, Hartmann, Monica, & Stern, Steven (2009) Annual miles drive used car prices. Journal of Applied Econometrics, 24(1), pp. 1-33.
This paper investigates whether the net benefits from owning a vehicle, proxied by annual miles driven, explain the price declines observed over a vehicle's life. We first model the household decision on how much to drive each of its vehicles. Then we empirically establish that variation in household annual miles across brands explains observed price declines. Furthermore, the effect of vehicle age on annual miles decisions (and consequently on market value) depends on household characteristics and the composition of the vehicle stock owned.
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|Item Type:||Journal Article|
|Divisions:||Current > Schools > School of Mathematical Sciences
Current > QUT Faculties and Divisions > Science & Engineering Faculty
|Copyright Owner:||Copyright © 2008 John Wiley & Sons, Ltd.|
|Deposited On:||02 Jul 2014 02:00|
|Last Modified:||03 Jul 2014 00:16|
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