Rates of Time Preference and Consumer Valuations of Automobile Safety and Fuel Efficiency
Rates of Time Preference and Consumer Valuations of Automobile Safety and Fuel Efficiency
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时间偏好率与消费者对汽车安全和燃油效率的评价
DOI：
10.1086/467326
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发表时间：
1995
期刊：
影响因子：
--
通讯作者：
Kip Viscusi
中科院分区：
文献类型：
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作者：
Mark K. Dreyfus;W.;Kip Viscusi
本文使用来自美国能源部住宅交通能源消费调查的近3,000个家庭的数据集估计了汽车的享乐价格模型。标准的享乐模型被推广到认识到燃料效率和安全性的折扣的作用，产生的时间偏好的估计率范围从11%到17%。这一幅度包括1988年汽车贷款的现行利率，因此与市场利率一致。购买者表现出的隐含生命价值在260万美元到370万美元之间，这在劳动力市场和其他市场环境中发现的范围内。该模型还估计了汽车伤害风险和燃油效率的显着价格效应。
This article estimates hedonic price models for automobiles using a data set on almost 3,000 households from the U.S. Department of Energy Residential Transportation Energy Consumption Survey. The standard hedonic models are generalized to recognize the role of discounting of fuel efficiency and safety, yielding an estimated rate of time preference ranging from 11 to 17 percent. This range includes the prevailing rate of interest for car loans in 1988 and is consequently consistent with market rates. Purchasers exhibit an implicit value of life ranging from $2.6 to $3.7 million, which is within the range found in the labor market as well as other market contexts. The model also estimates a significant price effect for auto injury risks and fuel efficiency.