Are Consumers Myopic? Evidence from New and Used Car Purchases
We investigate whether car buyers are myopic about future fuel costs. We estimate the effect of gasoline prices on short-run equilibrium prices of cars of different fuel economies. We then compare the implied changes in willingness-to-pay to the associated changes in expected future gasoline costs f...
| Main Authors: | , , |
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| Other Authors: | |
| Format: | Article |
| Language: | en_US |
| Published: |
American Economic Association
2014
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| Online Access: | http://hdl.handle.net/1721.1/87769 https://orcid.org/0000-0002-7654-8641 |