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Vehicle price and hydrocarbon emissions: evidence from the used-vehicle markets

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  • Okmyung Bin
  • Carlos Martins-Filho

Abstract

This study examines how used-vehicle markets responded to the automobile hydrocarbon emissions by linking used-vehicle price to the large scale emission test data that contain 74 vehicle models manufactured over 18 years. An additive semiparametric hedonic model is estimated to analyse the relationship between vehicle price and hydrocarbon emissions. The estimation procedure is novel and involves a local polynomial estimator nested in a backfitting algorithm with the bandwidths chosen by a data-driven plug-in method. The results indicate that hydrocarbon emissions have a significant negative impact on vehicle price, but the negative association is evident only at low emission levels. The price discount appears to be unrelated to the increased costs from recent emission regulations that mainly target high-polluting vehicles.

Suggested Citation

  • Okmyung Bin & Carlos Martins-Filho, 2008. "Vehicle price and hydrocarbon emissions: evidence from the used-vehicle markets," Applied Economics Letters, Taylor & Francis Journals, vol. 15(12), pages 939-943.
    • Handle: RePEc:taf:apeclt:v:15:y:2008:i:12:p:939-943
    DOI: 10.1080/13504850600972303
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    Cited by:

    1. Giuliano Rolle, 2022. "Between and within vehicle models hedonic analyses of environmental attributes: the case of the Italian used-car market," SEEDS Working Papers 0822, SEEDS, Sustainability Environmental Economics and Dynamics Studies, revised Aug 2022.
    2. Girma Kassie & Awudu Abdulai & Clemens Wollny, 2011. "Heteroscedastic hedonic price model for cattle in the rural markets of central Ethiopia," Applied Economics, Taylor & Francis Journals, vol. 43(24), pages 3459-3464.
    3. Yasser A. Al-Rawi & Mohammed Harith Imlus & Yusri Yusup & Sofri Bin Yahya, 2021. "Factors affecting vehicle exhaust emissions, driver motivations as a mediator," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 23(2), pages 361-407, April.

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