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How Much Do Consumers Value Fuel Cost Savings? Evidence from the Passenger Vehicle Leasing Market | |
Benjamin Leard and Kevin Ankney | |
2021-08-25 | |
出版年 | 2021 |
国家 | 美国 |
领域 | 资源环境 |
英文摘要 | Vehicle leasing involves a consumer renting a car for an average of three years. Given the typical lease length, we show that estimating valuation of leased vehicle fuel costs is fundamentally different from estimating valuation of purchased vehicle fuel costs. We find that new vehicle lessees and buyers both undervalue lifetime fuel costs. But because leasing periods last about three years, new vehicle lessees fully value lease-specific fuel costs. Our estimates also imply that leasing companies set residual values, defined as the post-lease expected value of the vehicle, with the expectation that used vehicle buyers undervalue post-lease fuel costs. |
URL | 查看原文 |
来源平台 | Resources for the Future |
文献类型 | 科技报告 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/336519 |
专题 | 资源环境科学 |
推荐引用方式 GB/T 7714 | Benjamin Leard and Kevin Ankney. How Much Do Consumers Value Fuel Cost Savings? Evidence from the Passenger Vehicle Leasing Market,2021. |
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