The Informational Role of Product Trade‐Ins for Pricing Durable Goods
研究发现耐用品卖家可根据买家是否以旧换新及旧品特征推断其支付意愿，并用新车交易数据证实：以旧换新者被收取更高价格，尤其当旧车与新车相似时。
This research theorizes that sellers of durable goods can utilize inferences about the buyer's willingness to pay based not only on her decision to trade in the old good but also on its characteristics. We find empirical support for this theory using transaction data for new car purchases. The results support the notion that dealers infer a higher willingness to pay and charge higher prices to consumers who trade in a used vehicle than to those who do not. We also find that dealers charge even higher prices to those consumers who trade in used cars that are similar to the new one.