A Quantitative Analysis of the Used-Car Market 二手车市场的定量分析.pdfVIP

A Quantitative Analysis of the Used-Car Market∗ Alessandro Gavazza¶ Alessandro Lizzeri§ Nikita Roketskiy January 2014 Abstract We quantitatively investigate the allocative and welfare effects of secondary markets for cars. An important source of gains from trade in these markets is the heterogeneity in the willingness to pay for higher-quality (newer) goods, but transaction costs are an impedi