Price Discontinuities in an Online Market for Used Cars
نویسندگان
چکیده
منابع مشابه
The Market for Used Cars:
The lemons model assumes that owners of used cars have an informational advantage over potential buyers with respect to the quality of their vehicles. Owners of bad cars will try to sell them to unsuspecting buyers while owners of good cars will hold on to theirs. Consequently, the quality of traded automobiles should be sub-average. In contrast to previous work, the following paper tests both ...
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A hedonic technique for calculating the consumer price index for second-hand cars was introduced in May 2003. The hedonic technique adjusts for quality by using regression analysis to measure the impact of product features on sale price. In this manner price changes that are due to quality shifts in specific features can be separated mathematically from “pure” price changes and purged. The foll...
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This study analyzes how auction, seller, and product factors influence the price premium in an eBay used car auction market. In auctions with at least one bid, the reputation of the seller, title status, and the time the auction ended influenced the price premium on the highest bid. For auctions that resulted in a sale, cars with clear title and dealers were able to secure significantly greater...
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Using two different samples – one based on newspaper advertisements, the other Internet-based – we identify some price anomalies in the used car market in the Netherlands. First, prices of used cars depend on their age in calendar years rather than months. Second, there is some evidence that crossing 100,000 km induces a sudden additional price reduction. Third, a new license plate format, some...
متن کاملPredicting the Price of Used Cars using Machine Learning Techniques
In this paper, we investigate the application of supervised machine learning techniques to predict the price of used cars in Mauritius. The predictions are based on historical data collected from daily newspapers. Different techniques like multiple linear regression analysis, k-nearest neighbours, naïve bayes and decision trees have been used to make the predictions. The predictions are then ev...
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ژورنال
عنوان ژورنال: Management Science
سال: 2018
ISSN: 0025-1909,1526-5501
DOI: 10.1287/mnsc.2016.2714