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The Informational Role of Product Trade-Ins for Pricing Durable Goods.

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Title: The Informational Role of Product Trade-Ins for Pricing Durable Goods.
Authors: Kwon, Ohjin1 ohjin.kwon@concordia.ca, Dukes, Anthony J.2 dukes@marshall.usc.edu, Siddarth, S.2 siddarth@marshall.usc.edu, Silva‐Risso, Jorge M.3 jorge.silva-risso@ucr.edu
Source: Journal of Industrial Economics. Dec2015, Vol. 63 Issue 4, p736-762. 27p. 4 Charts, 1 Graph.
Subjects: Trade-ins, Durable consumer goods, Price discrimination, Consumer behavior, Marketing, Prices
Abstract: This research theorizes that sellers of durable goods can utilize inferences about the buyer's willingness to pay based not only on her decision to trade in the old good but also on its characteristics. We find empirical support for this theory using transaction data for new car purchases. The results support the notion that dealers infer a higher willingness to pay and charge higher prices to consumers who trade in a used vehicle than to those who do not. We also find that dealers charge even higher prices to those consumers who trade in used cars that are similar to the new one. [ABSTRACT FROM AUTHOR]
Copyright of Journal of Industrial Economics is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
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  Data: The Informational Role of Product Trade-Ins for Pricing Durable Goods.
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  Data: <searchLink fieldCode="AR" term="%22Kwon%2C+Ohjin%22">Kwon, Ohjin</searchLink><relatesTo>1</relatesTo><i> ohjin.kwon@concordia.ca</i><br /><searchLink fieldCode="AR" term="%22Dukes%2C+Anthony+J%2E%22">Dukes, Anthony J.</searchLink><relatesTo>2</relatesTo><i> dukes@marshall.usc.edu</i><br /><searchLink fieldCode="AR" term="%22Siddarth%2C+S%2E%22">Siddarth, S.</searchLink><relatesTo>2</relatesTo><i> siddarth@marshall.usc.edu</i><br /><searchLink fieldCode="AR" term="%22Silva‐Risso%2C+Jorge+M%2E%22">Silva‐Risso, Jorge M.</searchLink><relatesTo>3</relatesTo><i> jorge.silva-risso@ucr.edu</i>
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  Data: <searchLink fieldCode="JN" term="%22Journal+of+Industrial+Economics%22">Journal of Industrial Economics</searchLink>. Dec2015, Vol. 63 Issue 4, p736-762. 27p. 4 Charts, 1 Graph.
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  Data: <searchLink fieldCode="DE" term="%22Trade-ins%22">Trade-ins</searchLink><br /><searchLink fieldCode="DE" term="%22Durable+consumer+goods%22">Durable consumer goods</searchLink><br /><searchLink fieldCode="DE" term="%22Price+discrimination%22">Price discrimination</searchLink><br /><searchLink fieldCode="DE" term="%22Consumer+behavior%22">Consumer behavior</searchLink><br /><searchLink fieldCode="DE" term="%22Marketing%22">Marketing</searchLink><br /><searchLink fieldCode="DE" term="%22Prices%22">Prices</searchLink>
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  Data: This research theorizes that sellers of durable goods can utilize inferences about the buyer's willingness to pay based not only on her decision to trade in the old good but also on its characteristics. We find empirical support for this theory using transaction data for new car purchases. The results support the notion that dealers infer a higher willingness to pay and charge higher prices to consumers who trade in a used vehicle than to those who do not. We also find that dealers charge even higher prices to those consumers who trade in used cars that are similar to the new one. [ABSTRACT FROM AUTHOR]
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  Data: <i>Copyright of Journal of Industrial Economics is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract.</i> (Copyright applies to all Abstracts.)
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        Value: 10.1111/joie.12090
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        Text: English
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        PageCount: 27
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      – SubjectFull: Trade-ins
        Type: general
      – SubjectFull: Durable consumer goods
        Type: general
      – SubjectFull: Price discrimination
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      – SubjectFull: Consumer behavior
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      – SubjectFull: Prices
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              M: 12
              Text: Dec2015
              Type: published
              Y: 2015
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