Replication data for: When Do Secondary Markets Harm Firms?
Principal Investigator(s): View help for Principal Investigator(s) Jiawei Chen; Susanna Esteban; Matthew Shum
Version: View help for Version V1
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20100292_data | 10/11/2019 07:18:PM | ||
LICENSE.txt | text/plain | 14.6 KB | 10/11/2019 03:18:PM |
Project Citation:
Chen, Jiawei, Esteban, Susanna, and Shum, Matthew. Replication data for: When Do Secondary Markets Harm Firms? Nashville, TN: American Economic Association [publisher], 2013. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-11. https://doi.org/10.3886/E112685V1
Project Description
Summary:
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To investigate whether secondary markets aid or harm durable goods
manufacturers, we build a dynamic model of durable goods oligopoly
with transaction costs in the secondary market. Calibrating model
parameters using data from the US automobile industry, we find the
net effect of opening the secondary market is to decrease new car
manufacturers' profits by 35 percent. Counterfactual scenarios in
which the size of the used good stock decreases, such as when products
become less durable, when the number of firms decreases, or when
firms can commit to future production levels, increase the profitability
of opening the secondary market.
Scope of Project
JEL Classification:
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L13 Oligopoly and Other Imperfect Markets
L25 Firm Performance: Size, Diversification, and Scope
L62 Automobiles; Other Transportation Equipment; Related Parts and Equipment
L81 Retail and Wholesale Trade; e-Commerce
L13 Oligopoly and Other Imperfect Markets
L25 Firm Performance: Size, Diversification, and Scope
L62 Automobiles; Other Transportation Equipment; Related Parts and Equipment
L81 Retail and Wholesale Trade; e-Commerce
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