| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w23856 |
| 来源ID | Working Paper 23856 |
| Attribute Substitution in Household Vehicle Portfolios | |
| James Archsmith; Kenneth Gillingham; Christopher R. Knittel; David S. Rapson | |
| 发表日期 | 2017-09-25 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | Household preferences for goods with a bundle of attributes may have complex substitution patterns when one attribute is changed. For example, a household faced with an exogenous increase in the size of one television may choose to decrease the size of other televisions within the home. This paper quantifies the extent of attribute substitution in the context of multi-vehicle households. We deploy a novel identification strategy to examine how an exogenous change in the fuel economy of a kept vehicle affects a household's choice of a second vehicle. We find strong evidence of attribute substitution in the household vehicle portfolio. This effect operates through car attributes that are correlated with fuel economy, including vehicle footprint and weight. Our findings suggest that attribute substitution exerts a strong force that may erode a substantial portion of the expected future gasoline savings from fuel economy standards, particularly those that are attribute-based. Elements of our identification strategy are relevant to a broad class of settings in which consumers make sequential purchases of durable portfolio goods. |
| 主题 | Industrial Organization ; Industry Studies ; Regional and Urban Economics |
| URL | https://www.nber.org/papers/w23856 |
| 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/581529 |
| 推荐引用方式 GB/T 7714 | James Archsmith,Kenneth Gillingham,Christopher R. Knittel,et al. Attribute Substitution in Household Vehicle Portfolios. 2017. |
| 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 | ||
| w23856.pdf（528KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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