Annual miles drive used car prices
研究年行驶里程（代表车辆拥有净收益）能否解释二手车价格随车龄下降的现象，并发现品牌间家庭年行驶里程差异可解释价格下降，且车龄对行驶里程的影响取决于家庭特征和车辆构成。
Abstract This paper investigates whether the net benefits from owning a vehicle, proxied by annual miles driven, explain the price declines observed over a vehicle's life. We first model the household decision on how much to drive each of its vehicles. Then we empirically establish that variation in household annual miles across brands explains observed price declines. Furthermore, the effect of vehicle age on annual miles decisions (and consequently on market value) depends on household characteristics and the composition of the vehicle stock owned. Copyright © 2008 John Wiley & Sons, Ltd.