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Analysis of equilibrium automobile holdings in Israel with aggregate discrete choice models

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  • Manski, Charles F.

Abstract

Models of household vehicle ownership decisions do not suffice as a basis for forecasting the size and composition of aggregate vehicle holdings. Forecasting applications require that such models be imbedded in systems describing the operation of the automobile market. This paper presents a new model of short run equilibrium in the automobile market. The short run is a period within which new car designs and prices are fixed but used car prices adjust competitively to market forces. The magnitude and mix of new car sales, the extent of used car scrappage and the composition of used car holdings are determined in equilibrium with used car prices. An econometric version of the market model has been estimated on Israeli data and applied to analyze the impact of vehicle tax policy on automobile holdings in Israel. The paper describes this application.

Suggested Citation

  • Manski, Charles F., 1983. "Analysis of equilibrium automobile holdings in Israel with aggregate discrete choice models," Transportation Research Part B: Methodological, Elsevier, vol. 17(5), pages 373-389, October.
    • Handle: RePEc:eee:transb:v:17:y:1983:i:5:p:373-389
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    Cited by:

    1. Pesendorfer, Martin & Schiraldi, Pasquale & Silva-Junior, Daniel, 2023. "Omitted budget constraint bias in discrete-choice demand models," International Journal of Industrial Organization, Elsevier, vol. 86(C).
    2. Berry, Steven & Levinsohn, James & Pakes, Ariel, 1995. "Automobile Prices in Market Equilibrium," Econometrica, Econometric Society, vol. 63(4), pages 841-890, July.
    3. Haghani, Milad & Bliemer, Michiel C.J. & Hensher, David A., 2021. "The landscape of econometric discrete choice modelling research," Journal of choice modelling, Elsevier, vol. 40(C).
    4. Eskeland, Gunnar S. & Feyzioglu, Tarhan N., 1997. "Is demand for polluting goods manageable? An econometric study of car ownership and use in Mexico," Journal of Development Economics, Elsevier, vol. 53(2), pages 423-445, August.
    5. Konishi, Hideo & Sandfort, Michael T., 2002. "Existence of stationary equilibrium in the markets for new and used durable goods," Journal of Economic Dynamics and Control, Elsevier, vol. 26(6), pages 1029-1052, June.
    6. Karst Geurs & Henk Meurs, 2011. "The Dutch national road pricing scheme: review of appraisal studies and impacts for the Dutch car market and the environment," ERSA conference papers ersa10p1438, European Regional Science Association.
    7. Pesendorfer, Martin & Schiraldi, Pasquale & Silva-Junior, Daniel, 2023. "Omitted budget constraint bias in discrete-choice demand models," LSE Research Online Documents on Economics 117353, London School of Economics and Political Science, LSE Library.
    8. Taha Rashidi & Abolfazl Mohammadian & Frank Koppelman, 2011. "Modeling interdependencies between vehicle transaction, residential relocation and job change," Transportation, Springer, vol. 38(6), pages 909-932, November.
    9. Frances Ifeoma Ukonze & Maxwell Umunna Nwachukwu & Harold Chike Mba & Donald Chiuba Okeke & Uloma Jiburum, 2020. "Determinants of Vehicle Ownership in Nigeria," SAGE Open, , vol. 10(2), pages 21582440209, May.
    10. Siskos, Pelopidas & Moysoglou, Yannis, 2019. "Assessing the impacts of setting CO2 emission targets on truck manufacturers: A model implementation and application for the EU," Transportation Research Part A: Policy and Practice, Elsevier, vol. 125(C), pages 123-138.

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