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A CROSS‐SECTION ANALYSIS OF THE DEMAND FOR NEW AND USED AUTOMOBILES IN THE UNITED STATES
Author(s) -
Johnson Terry R.
Publication year - 1978
Publication title -
economic inquiry
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.823
H-Index - 72
eISSN - 1465-7295
pISSN - 0095-2583
DOI - 10.1111/j.1465-7295.1978.tb00524.x
Subject(s) - multinomial logistic regression , economics , section (typography) , logit , econometrics , multinomial distribution , nested logit , statistics , mathematics , business , advertising
This paper investigates the effects of income and other family characteristics on the demand for new and used automobiles. The multinomial logit probability model is employed to explain a family's choice of age and number of automobiles. Two cross‐section surveys are analyzed to ascertain how well these components of demand can be explained by socio‐economic variables.