Price Determinants on Used Car Auction in Taiwan | Zendy

Shiang-Min Meng | Zendy; Li-Jen Liu | Zendy; Mikhail Kuritsyn | Zendy; Vladislav Pechnikov | Zendy

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Price Determinants on Used Car Auction in Taiwan

Author(s) -

Shiang-Min Meng,

Li-Jen Liu,

Mikhail Kuritsyn,

Vladislav Pechnikov

Publication year - 2019

Publication title -

international journal of asian social science

Language(s) - English

Resource type - Journals

eISSN - 2226-5139

pISSN - 2224-4441

DOI - 10.18488/journal.1.2019.91.48.58

Subject(s) - common value auction , econometrics , reputation , linear regression , regression analysis , variables , variable (mathematics) , control variable , value (mathematics) , economics , business , contrast (vision) , advertising , statistics , computer science , mathematics , microeconomics , mathematical analysis , social science , artificial intelligence , sociology

This research examines price determinants of used car using the example on Taiwan used car auctions. The used cars which were produced in Taiwan and whose final price does not exceed one million New Taiwan Dollars. Research data from used cars auction website which included 504 successful transactions in Taiwan used car auction marketing. The log-linear multiple regression model is applied to evaluate this data. According to the results, polynomial log-linear multiple regression models is more suitable for this research and produces better results. As the result shows that the chosen variables can explain changes in price determinants of used cars in Taiwan auctions marketing and Toyota has very strong brand reputation in Taiwan. All chosen variables are statistically significant at 1% confidence interval (p-value

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