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How does a large-scale disaster impact on the used-car market? A case study of the Great East Japan Earthquake and Tsunami

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Listed:
  • Yuya Shibuya

    (The University of Tokyo)

  • Hideyuki Tanaka

    (The University of Tokyo)

Abstract

The aim of this paper is to examine how a large-scale natural disaster impacts on the used-car market. This paper particularly tries to clarify what type of cars and what kinds of car features were demanded in damaged areas and when. We conduct a case study on the Great East Japan Earthquake and Tsunami of 2011 and compare the used-car prices in damaged areas and non-damaged areas. The finding of this paper is that after the Great East Japan Earthquake and Tsunami, cheaper used cars and used cars with larger carrying capacity were needed in damaged areas. In addition, we find that car types which people in the damaged areas needed depend on the phase of recovery.

Suggested Citation

  • Yuya Shibuya & Hideyuki Tanaka, 2019. "How does a large-scale disaster impact on the used-car market? A case study of the Great East Japan Earthquake and Tsunami," International Journal of Economic Policy Studies, Springer, vol. 13(1), pages 89-117, January.
    • Handle: RePEc:spr:ijoeps:v:13:y:2019:i:1:d:10.1007_s42495-018-0003-6
    DOI: 10.1007/s42495-018-0003-6
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    References listed on IDEAS

    as
    1. Prieto, Marc & Caemmerer, Barbara & Baltas, George, 2015. "Using a hedonic price model to test prospect theory assertions: The asymmetrical and nonlinear effect of reliability on used car prices," Journal of Retailing and Consumer Services, Elsevier, vol. 22(C), pages 206-212.
    2. Alexander Kihm & Colin Vance, 2016. "The determinants of equity transmission between the new and used car markets: a hedonic analysis," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 67(10), pages 1250-1258, October.
    3. Peter Kooreman & Marco Haan, 2006. "Price Anomalies in the Used Car Market," De Economist, Springer, vol. 154(1), pages 41-62, March.
    4. Balcik, Burcu & Beamon, Benita M. & Krejci, Caroline C. & Muramatsu, Kyle M. & Ramirez, Magaly, 2010. "Coordination in humanitarian relief chains: Practices, challenges and opportunities," International Journal of Production Economics, Elsevier, vol. 126(1), pages 22-34, July.
    5. Sheu, Jiuh-Biing, 2007. "Challenges of emergency logistics management," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 43(6), pages 655-659, November.
    6. Marco Haan & Henk-Wim Boer, 2010. "Has the Internet Eliminated Regional Price Differences? Evidence from the Used Car Market," De Economist, Springer, vol. 158(4), pages 373-386, November.
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    More about this item

    Keywords

    Used-car market; Used-car supply; Disaster logistics; Great East Japan Earthquake and Tsunami;
    All these keywords.

    JEL classification:

    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • L62 - Industrial Organization - - Industry Studies: Manufacturing - - - Automobiles; Other Transportation Equipment; Related Parts and Equipment
    • H12 - Public Economics - - Structure and Scope of Government - - - Crisis Management

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