"One Discriminatory Rent" or "Double Jeopardy": Multicomponent Negotiation for New Car Purchases
In: American economic review, Band 100, Heft 2, S. 470-474
ISSN: 1944-7981
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In: American economic review, Band 100, Heft 2, S. 470-474
ISSN: 1944-7981
In: American economic review, Band 96, Heft 4, S. 1253-1270
ISSN: 1944-7981
In: NBER Working Paper No. w8668
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In: NBER Working Paper No. w8667
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In: Marketing Science, Forthcoming
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In: NBER Working Paper No. w18212
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In: American economic review, Band 103, Heft 3, S. 575-579
ISSN: 1944-7981
We investigate whether the first digit of an odometer reading is more salient to consumers than subsequent digits. We find that retail transaction prices and volumes of used vehicles drop discontinuously at 10,000-mile odometer thresholds, echoing effects found in the wholesale market by Lacetera, Pope and Sydnor (2012). Our results reveal that retail consumers devote limited attention to evaluating vehicle mileage, and that this drives effects in the wholesale market. We estimate the inattention parameter implied by the price discontinuities. In addition, our results suggest that estimating consumer-level structural parameters using data from an intermediate market can give misleading results.
In: NBER Working Paper No. w18820
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Working paper