How much Competition is a Secondary Market?

Publication:
How much Competition is a Secondary Market?

dc.affiliation.dpto	UC3M. Departamento de Economía	es
dc.contributor.author	Esteban, Susanna
dc.contributor.author	Chen, Jiawei
dc.contributor.author	Shum, Matthew
dc.contributor.other	The Johns Hopkins University. Department of Economics
dc.date.accessioned	2009-08-26T15:07:08Z
dc.date.available	2009-08-26T15:07:08Z
dc.date.issued	2008
dc.description.abstract	In this paper, we build a dynamic equilibrium model of durable goods oligopoly, in which consumers face lumpy costs of transacting in the secondary markets and to which they respond by buying and selling infrequently. We calibrate the model using aggregate data from the U.S. automobile industry and measure transaction costs and the substitutability between products. We use our estimates to directly quantify how much competition active secondary markets represent for durable-goods producers.
dc.format.mimetype	application/pdf
dc.identifier.uri	https://hdl.handle.net/10016/4998
dc.language.iso	eng
dc.relation.ispartofseries	Working paper
dc.rights.accessRights	open access
dc.subject.eciencia	Economía
dc.subject.other	Secondary Markets
dc.subject.other	Durables Goods
dc.subject.other	Oligopoly
dc.subject.other	Transaction Costs
dc.subject.other	Automobile Industry
dc.subject.other	Market Power
dc.title	How much Competition is a Secondary Market?
dc.type	working paper	*
dspace.entity.type	Publication

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