Understanding the Role of Trade-Ins in Durable Goods Markets: Theory and Evidence
Abstract
The act of trading in a used car as partial payment for a new car resonates with practically all consumers. Such transactions are prevalent in many other durable goods markets, ranging from golf clubs to CT scanners. What roles do trade-ins play in these markets? What motivates the seller to set up a channel to facilitate trade-ins? Intuitively, accepting a trade-in would appear to stimulate demand for the producer's product, but facilitating...
Paper Details
Title
Understanding the Role of Trade-Ins in Durable Goods Markets: Theory and Evidence
Published Date
Sep 1, 2009
Journal
Volume
28
Issue
5
Pages
950 - 967
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