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2003•Unpublished venueRequires access

MARKET PRICE AND INCOME ELASTICITIES OF NEW VEHICLE DEMANDS. IN: RECENT DEVELOPMENTS IN TRANSPORT ECONOMICS

Patrick McCarthy

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Abstract

Aggregate models of automobile demand gives evidence indicating the market price elasticity of demand is significantly biased downwards when not corrected for quality differences. This paper presents new information on market price and income elasticities derived from a disaggregate demand model the controls for cost, household income, vehicle attributes and perceived quality, consumer search and manufacturer.

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What this paper is about

Aggregate models of automobile demand gives evidence indicating the market price elasticity of demand is significantly biased downwards when not corrected for quality differences. This paper presents new information on market price and income elasticities derived from a disaggregate demand model the controls for cost, household income, vehicle attributes and perceived quality, consumer search and manufacturer.

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Available abstract

Aggregate models of automobile demand gives evidence indicating the market price elasticity of demand is significantly biased downwards when not corrected for quality differences. This paper presents new information on market price and income elasticities derived from a disaggregate demand model the controls for cost, household income, vehicle attributes and perceived quality, consumer search and manufacturer.

Key concepts: Economics, Price elasticity of demand, Income elasticity of demand, Quality (philosophy), Microeconomics, Elasticity (physics), Price elasticity of supply, Econometrics

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MARKET PRICE AND INCOME ELASTICITIES OF NEW VEHICLE DEMANDS. IN: RECENT DEVELOPMENTS IN TRANSPORT ECONOMICS — Research Paper | ScholarLens