Are Consumers Myopic? Evidence from New and Used Car Purchases
通过分析汽油价格对不同燃油经济性汽车短期均衡价格的影响，比较消费者支付意愿变化与预期未来燃油成本变化，计算隐含贴现率，发现与借款利率相近，表明消费者并非短视。
We investigate whether car buyers are myopic about future fuel costs. We estimate the effect of gasoline prices on short-run equilibrium prices of cars of different fuel economies. We then compare the implied changes in willingness-to-pay to the associated changes in expected future gasoline costs for cars of different fuel economies in order to calculate implicit discount rates. Using different assumptions about annual mileage, survival rates, and demand elasticities, we calculate a range of implicit discount rates similar to the range of interest rates paid by car buyers who borrow. We interpret this as showing little evidence of consumer myopia.