Search for an affordable clean car: Pricing of conventional and clean automobiles
Identifikátory výsledku
Kód výsledku v IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F45773009%3A_____%2F23%3AN0000011" target="_blank" >RIV/45773009:_____/23:N0000011 - isvavai.cz</a>
Výsledek na webu
<a href="https://www.sciencedirect.com/science/article/abs/pii/S1361920923001359?via%3Dihub" target="_blank" >https://www.sciencedirect.com/science/article/abs/pii/S1361920923001359?via%3Dihub</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1016/j.trd.2023.103738" target="_blank" >10.1016/j.trd.2023.103738</a>
Alternativní jazyky
Jazyk výsledku
angličtina
Název v původním jazyce
Search for an affordable clean car: Pricing of conventional and clean automobiles
Popis výsledku v původním jazyce
UK has one of the world’s largest automobile markets, with a growing share of alternative fuel vehicles (AFVs), and a great importance to the economy. However, an extensive insight into the price drivers of conventional vehicles (CVs) and AFVs is lacking in the literature. Therefore, this paper estimates the determinants of automobile prices, applying a hedonic pricing model to a novel, extensive dataset of 2008–19. Using adaptive Lasso and weighted quantile regressions, the key drivers of prices are performance and size, with the effect growing stronger with prices. More specifically, one standard deviation increase of engine power and weight increases prices by 16.9% and 14.7% respectively. AFVs display a significantly greater sensitivity to changes in car characteristics compared to CVs, especially to changes in performance, emissions, and equipment. Furthermore, hedonic price indices show that about 65% of the price increase in 2008–19 was caused solely by improvements in vehicle quality.
Název v anglickém jazyce
Search for an affordable clean car: Pricing of conventional and clean automobiles
Popis výsledku anglicky
UK has one of the world’s largest automobile markets, with a growing share of alternative fuel vehicles (AFVs), and a great importance to the economy. However, an extensive insight into the price drivers of conventional vehicles (CVs) and AFVs is lacking in the literature. Therefore, this paper estimates the determinants of automobile prices, applying a hedonic pricing model to a novel, extensive dataset of 2008–19. Using adaptive Lasso and weighted quantile regressions, the key drivers of prices are performance and size, with the effect growing stronger with prices. More specifically, one standard deviation increase of engine power and weight increases prices by 16.9% and 14.7% respectively. AFVs display a significantly greater sensitivity to changes in car characteristics compared to CVs, especially to changes in performance, emissions, and equipment. Furthermore, hedonic price indices show that about 65% of the price increase in 2008–19 was caused solely by improvements in vehicle quality.
Klasifikace
Druh
J<sub>imp</sub> - Článek v periodiku v databázi Web of Science
CEP obor
—
OECD FORD obor
50206 - Finance
Návaznosti výsledku
Projekt
—
Návaznosti
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace
Ostatní
Rok uplatnění
2023
Kód důvěrnosti údajů
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Údaje specifické pro druh výsledku
Název periodika
Transportation Research Part D: Transport and Environment
ISSN
1361-9209
e-ISSN
1879-2340
Svazek periodika
118
Číslo periodika v rámci svazku
May
Stát vydavatele periodika
GB - Spojené království Velké Británie a Severního Irska
Počet stran výsledku
12
Strana od-do
103738
Kód UT WoS článku
001007136200001
EID výsledku v databázi Scopus
2-s2.0-85152491275