Attribute substitution in household vehicle portfolios.
Roughly three quarters of vehicles are purchased into multi‐car households. We study whether households are willing to substitute attributes, such as fuel economy, across vehicles within their portfolio. We develop a novel strategy to separately identify idiosyncratic preferences for an attribute fr...
| Publicado en: | RAND Journal of Economics (Wiley-Blackwell) Vol. 51; no. 4; pp. 1162 - 1197 |
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| Autores principales: | , , , |
| Formato: | Artículo |
| Publicado: |
Wiley-Blackwell
Dec2020
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| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=147698526&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 147698526 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 07416261 56RJ jtl: RAND Journal of Economics (Wiley-Blackwell) issn: 07416261 maglogo: Y pubinfo: dt: Dec2020 vid: 51 iid: 4 pid: 480 pub: Wiley-Blackwell artinfo: ui: 147698526 10.1111/1756-2171.12353 ppf: 1162 ppct: 35 formats: fmt: – @attributes: type: T – @attributes: type: C – @attributes: type: P size: 989KB tig: atl: Attribute substitution in household vehicle portfolios. aug: au: Archsmith, James Gillingham, Kenneth T. Knittel, Christopher R. Rapson, David S. affil: University of Maryland Yale MIT UC Davis su: California Households Recording & registration Vehicles sug: subj: Households California Private Households Recording & registration Vehicles ab: Roughly three quarters of vehicles are purchased into multi‐car households. We study whether households are willing to substitute attributes, such as fuel economy, across vehicles within their portfolio. We develop a novel strategy to separately identify idiosyncratic preferences for an attribute from these within‐portfolio effects. Using the universe of household vehicle registration records in California over a 6‐year period, we find that two‐car households exhibit strong substitution across vehicles when faced with an exogenous change to fuel intensity of a kept vehicle. This effect can erode a substantial portion of the benefit from major policies, such as Cash‐for‐Clunkers. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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