| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w11515 |
| 来源ID | Working Paper 11515 |
| How the Internet Lowers Prices: Evidence from Matched Survey and Auto Transaction Data | |
| Florian Zettelmeyer; Fiona Scott Morton; Jorge Silva-Risso | |
| 发表日期 | 2005-08-01 |
| 出版年 | 2005 |
| 语种 | 英语 |
| 摘要 | There is convincing evidence that the Internet has lowered the prices paid by some consumers in established industries, for example, term life insurance and car retailing. However, current research does not reveal much about how using the Internet lowers prices. This paper answers this question for the auto retailing industry. We use direct measures of search behavior and consumer characteristics to investigate how the Internet affects negotiated prices. We show that the Internet lowers prices for two distinct reasons. First, the Internet helps consumers learn the invoice price of dealers. Second, the referral process of online buying services, a novel institution made possible by the Internet, also helps consumers obtain lower prices. The combined information and referral price effects are -1.5%, corresponding to 22% of dealers' average gross profit margin per vehicle. We also find that buyers with a high disutility of bargaining benefit from information on the specific car they eventually purchased while buyers who like the bargaining process do not. The results suggest that the decisions consumers make to use the Internet to gather information and to use the negotiating clout of an online buying service have a real effect on the prices paid by these consumers. |
| 主题 | Industrial Organization ; Market Structure and Firm Performance ; Industry Studies ; Microeconomics ; Economics of Information ; Other ; Accounting, Marketing, and Personnel |
| URL | https://www.nber.org/papers/w11515 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/569158 |
| 推荐引用方式 GB/T 7714 | Florian Zettelmeyer,Fiona Scott Morton,Jorge Silva-Risso. How the Internet Lowers Prices: Evidence from Matched Survey and Auto Transaction Data. 2005. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w11515.pdf（248KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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