This paper studies the within-model-year pricing, production, and inventory management of new automobiles. Using new monthly data on U.S. transaction prices, we document that, for the typical vehicle, prices fall over the model year at a 9.0 percent annual rate. Concurrently, both sales and inventories are hump shaped. To explain these time series, we formulate an industry model for new automob...

This paper argues for a more actor-centred approach in freight transportation studies, one that includes freight shippers and public authorities, as well as carriers, and that pays close attention to the relationships between these actors. One advantage of this approach is that it focuses on the conditions under which global logistics flows may become relatively fixed in particular localities. ...

Car owners are liable for property damage inflicted on other motorists. In most countries such liability must be insured by law. That law may favor expensive or heavy vehicles, prone to suffer or inflict large losses. This paper explores links between liability rules and vehicle choice. It presumes cooperative insurance, but non-cooperative acquisition of vehicles. Thus, the Nash equilibrium an...