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Attractiveness Estimation of the Second-Hand Cars

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

The paper concerns kinetic estimation of second-hand passenger cars attractiveness. The analysis is based on the average market prices of 10 selected used car models, produced in years 1997-2005. Price changes of all examined cars were described as a concave downward-sloping curves over time. On the basis of the price change kinetic functions, the orders of processes, the velocity rates, the acceleration rates, the resistance rates, 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 describes the consumer’s downward pressure on the used car price, whereas the resistance rate represents suppliers upward pressure on price. And finally, attractiveness rate describe perceived value of a product.

Suggested Citation

  • Pawel Luka & Krystyna Kwiatkowska-Sienkiewicz, 2010. "Attractiveness Estimation of the Second-Hand Cars," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 1224-1228, May.
    • Handle: RePEc:ovi:oviste:v:10:y:2010:i:1:p:1224-1228
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    More about this item

    Keywords

    estimation; second-hand cars; average market prices;
    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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