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Kinetic Analysis of Quality, Utility and Price Changes of the Second-HandCars in Poland

Author

Listed:
  • Pawel Luka
  • Krystyna Kwiatkowska-Sienkiewicz

    (Institute of Tourism, University of Rzeszow, Poland
    Department of Chemistry and Industrial Commodity Science,Gdynia Maritime University, Poland)

Abstract

In this paper the kinetic analysis of quality and utility based on the average market prices of 10 selected used cars, produced in years 1997-2005, were conducted. Price changes of all examined cars were described as a convex downward-sloping curve over time. On the basis of the price change kinetic functions, the orders of processes, the velocity rates, the acceleration rates, the resistance rate, as well as the attractiveness rates have been calculated. The price change velocity denotes marginal changes of second-hand car price during the time. The price change acceleration denotes the consumer downward pressure on the used car price, whereas the resistance rate represents supplier’s upward pressure on price. Attractiveness rate describe perceived quality and utility of a product. In that investigation the data attractiveness rate increase when dynamic indicator grew up. For each car model, the decrease in price caused increase in velocity rate and acceleration rate. Acceleration rate and resistance rate were presented in this paper as a new dynamic approach of measuring the pressures on price in supply/demand analysis.

Suggested Citation

  • Pawel Luka & Krystyna Kwiatkowska-Sienkiewicz, 2010. "Kinetic Analysis of Quality, Utility and Price Changes of the Second-HandCars in Poland," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 1219-1223, May.
  • Handle: RePEc:ovi:oviste:v:10:y:2010:i:1:p:1219-1223
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    More about this item

    Keywords

    quality; utility; price changes; second-hand cars.kinetic analysis;
    All these keywords.

    JEL classification:

    • C81 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access

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