کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5062906 1476652 2015 14 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
The impact of fixed and variable cost on automobile demand: Evidence from Denmark
ترجمه فارسی عنوان
تأثیر هزینه ثابت و متغیر بر تقاضای خودرو: شواهد از دانمارک
کلمات کلیدی
کالاهای بادوام، تمایل به پرداخت، تجزیه و تحلیل هیدونیک، غیر پارامتریک بازار خودرو،
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
چکیده انگلیسی


- We extend the hedonic model to include fixed as well as variable costs.
- Variable cost is a non‐negligible determinant of the wtp for car characteristics.
- The full wtp can be interpreted as a structural characteristic of consumers.
- We simulate the impact of a fuel price change.

Many car characteristics, for instance cabin space and engine power, have a positive impact on fixed and variable costs. We extend the hedonic model, that considers only one type of cost, to the situation in which fixed as well as variable costs depend on the characteristics of the durable and derive an expression for the full willingness to pay for characteristics that takes into account the impact on fixed as well as variable costs. We apply the model to the demand for automobiles using rich Danish register data. Estimation reveals considerable heterogeneity and a non-negligible contribution of the variable costs in total willingness to pay. Next we show that under suitable assumptions a structural interpretation of our estimates is possible. We show that the willingness to pay per kilometer driven can be interpreted as a parameter of the utility function and study how it is related to household characteristics. Finally, we illustrate the model by computing how consumers change car quality in response to an increase in the fuel price.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Economics of Transportation - Volume 4, Issue 4, December 2015, Pages 227-240
نویسندگان
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