| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP3432 |
| DP3432 The Generalized Dynamic Factor Model: One-Sided Estimation and Forecasting | |
| Marco Lippi; Lucrezia Reichlin; Marc Hallin; Mario Forni | |
| 发表日期 | 2002-06-20 |
| 出版年 | 2002 |
| 语种 | 英语 |
| 摘要 | The lemons model assumes that owners of used cars have an informational advantage over potential buyers with respect to the quality of their vehicles. Owners of bad cars will try to sell them to unsuspecting buyers while owners of good cars will hold on to theirs. Consequently, the quality of traded automobiles should be sub-average. In contrast to previous work, the following Paper tests both the assumption of informational asymmetry and the prediction of sub-average traded car quality using a sample consisting of all 1985 cars registered in the Swiss canton of Basle-City over the period 1985-91. Our data support both the assumption and the prediction of the lemons model. The lemons problem does not appear to be widespread, however. |
| 主题 | Industrial Organization |
| 关键词 | Adverse selection Used car market Duration models |
| URL | https://cepr.org/publications/dp3432 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/532451 |
| 推荐引用方式 GB/T 7714 | Marco Lippi,Lucrezia Reichlin,Marc Hallin,et al. DP3432 The Generalized Dynamic Factor Model: One-Sided Estimation and Forecasting. 2002. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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