Durable-goods oligopoly with secondary markets: the case of automobiles

被引：49
|
作者：
Esteban, Susanna [1 ]
Shum, Matthew [2 ]
机构：
[1] Univ Carlos III Madrid, E-28903 Getafe, Spain
[2] Johns Hopkins Univ, Baltimore, MD 21218 USA
来源：
RAND JOURNAL OF ECONOMICS | 2007年 / 38卷 / 02期
关键词：
D O I：
10.1111/j.1756-2171.2007.tb00071.x
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We study the effects of durability and secondary markets on equilibrium firm behavior in the car market. We construct a dynamic oligopoly model of a differentiated product market to incorporate the equilibrium production dynamics that arise from the durability of the goods and their active trade in secondary markets. We derive an econometric model and estimate its parameters using data from the automobile industry over a 20-year period. Our estimates are used to provide a measure of the competitive importance of the secondary market.
引用
收藏
页码：332 / 354
页数：23
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