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Scipediacontent moved page Draft Content 272551532 to Schiraldi 2008a

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Created page with " == Abstract == This paper specifies and estimates a structural dynamic model of consumer demand for new and used durable goods. Its primary contribution is to provide an exp..."

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== Abstract ==

This paper specifies and estimates a structural dynamic model of consumer demand for new and used durable goods. Its primary contribution is to provide an explicit estimation procedure for transaction costs, which are crucial to capturing the dynamic nature of consumer decisions. In particular, transaction costs play a key role in determining consumer replacement behavior in both primary and secondary markets for durable goods. The unique data set used in this paper has been collected by the Italian Motor Registry and covers the period from 1994 to 2004. It includes information about sales dates for individual cars over time as well as the initial stock of cars in the sample period. Identification of transaction costs is achieved from the variation in the share of consumers choosing to hold a given car type each period, and from the share of consumers choosing to purchase the same car type that period. Specifically, I estimate a random coefficients discrete choice model that incorporates a dynamic optimal stopping problem in the spirit of Rust (1987). I apply this model to evaluate the impact of scrappage subsidies on the Italian automobile market in 1997 and 1998.

== Original document ==

The different versions of the original document can be found in:

* [http://dx.doi.org/10.2139/ssrn.1350034 http://dx.doi.org/10.2139/ssrn.1350034]

* [http://eprints.lse.ac.uk/21780 http://eprints.lse.ac.uk/21780]

* [http://eprints.lse.ac.uk/21780/1/Automobile_replacement_%28LSERO%29.pdf http://eprints.lse.ac.uk/21780/1/Automobile_replacement_%28LSERO%29.pdf]

* [http://eprints.lse.ac.uk/21780 http://eprints.lse.ac.uk/21780],
: [http://econ.lse.ac.uk http://econ.lse.ac.uk]

* [https://api.wiley.com/onlinelibrary/tdm/v1/articles/10.1111%2Fj.1756-2171.2011.00133.x https://api.wiley.com/onlinelibrary/tdm/v1/articles/10.1111%2Fj.1756-2171.2011.00133.x],
: [http://onlinelibrary.wiley.com/wol1/doi/10.1111/j.1756-2171.2011.00133.x/fullpdf http://onlinelibrary.wiley.com/wol1/doi/10.1111/j.1756-2171.2011.00133.x/fullpdf],
: [http://dx.doi.org/10.1111/j.1756-2171.2011.00133.x http://dx.doi.org/10.1111/j.1756-2171.2011.00133.x] under the license http://doi.wiley.com/10.1002/tdm_license_1.1

* [https://onlinelibrary.wiley.com/doi/full/10.1111/j.1756-2171.2011.00133.x https://onlinelibrary.wiley.com/doi/full/10.1111/j.1756-2171.2011.00133.x],
: [http://www.eief.it/files/2008/11/automobile-replacement-a-dynamic-structural-approach.pdf http://www.eief.it/files/2008/11/automobile-replacement-a-dynamic-structural-approach.pdf],
: [http://sticerd.lse.ac.uk/dps/ei/ei49.pdf http://sticerd.lse.ac.uk/dps/ei/ei49.pdf],
: [http://eprints.lse.ac.uk/21780/1/Automobile_replacement_(LSERO).pdf http://eprints.lse.ac.uk/21780/1/Automobile_replacement_(LSERO).pdf],
: [http://personal.lse.ac.uk/SCHIRALD/automobile%20replacement_2010.pdf http://personal.lse.ac.uk/SCHIRALD/automobile%20replacement_2010.pdf],
: [https://ideas.repec.org/a/bla/randje/v42y2011i2p266-291.html https://ideas.repec.org/a/bla/randje/v42y2011i2p266-291.html],
: [http://economics.yale.edu/sites/default/files/files/Workshops-Seminars/Industrial-Organization/schiraldi-091029.pdf http://economics.yale.edu/sites/default/files/files/Workshops-Seminars/Industrial-Organization/schiraldi-091029.pdf],
: [https://www.ssrn.com/abstract=1350034 https://www.ssrn.com/abstract=1350034],
: [https://works.bepress.com/pasquale_schiraldi/1 https://works.bepress.com/pasquale_schiraldi/1],
: [https://www.jstor.org/stable/23046799 https://www.jstor.org/stable/23046799],
: [https://core.ac.uk/display/219832 https://core.ac.uk/display/219832],
: [http://www.ssrn.com/abstract=1350034 http://www.ssrn.com/abstract=1350034],
: [https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1350034 https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1350034],
: [https://econpapers.repec.org/RePEc:ehl:lserod:21780 https://econpapers.repec.org/RePEc:ehl:lserod:21780],
: [https://papers.ssrn.com/sol3/Delivery.cfm?abstractid=1350034 https://papers.ssrn.com/sol3/Delivery.cfm?abstractid=1350034],
: [http://eprints.lse.ac.uk/21780 http://eprints.lse.ac.uk/21780],
: [https://sociorepec.org/publication.xml?h=repec:cep:stieip:49&l=en https://sociorepec.org/publication.xml?h=repec:cep:stieip:49&l=en],
: [http://www.econ.wisc.edu/workshop/Schiraldi_paper.pdf http://www.econ.wisc.edu/workshop/Schiraldi_paper.pdf],
: [https://academic.microsoft.com/#/detail/1583801917 https://academic.microsoft.com/#/detail/1583801917]

DOIS: 10.2139/ssrn.1350034 10.1111/j.1756-2171.2011.00133.x

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Schiraldi 2008a - Revision history

Scipediacontent: Scipediacontent moved page Draft Content 272551532 to Schiraldi 2008a

Scipediacontent: Created page with " == Abstract == This paper specifies and estimates a structural dynamic model of consumer demand for new and used durable goods. Its primary contribution is to provide an exp..."