JANUARY 2023

VOlUME 06 ISSUE 01 JANUARY 2023
What is the Relationship between Buying a Used Car and Consumer Protection?
B. Steele Campbell
DOI : https://doi.org/10.47191/ijsshr/v6-i1-12

Google Scholar Download Pdf
ABSTRACT

There are industries and professions which are perceived by the public as having undesirable characteristics that make them risky for consumers. These characteristics may exhibit themselves through the circumstances surrounding the use of the good or service, or they may be exhibited in the behavior of the professionals in the industry. In many cases, consumers are hesitant to interact with these industries for fear of having a negative experience.
Lawyers, used-car salespeople, insurance salespeople, and politicians are good examples of industries or professions that consumers consider should be avoided when possible. Indeed these stereotypes are often perpetuated through television series, movies, and books. These stereotypes exist, at least in part, because consumers view these professions and industries as being risky for consumers. One particular industry stereotyped in this way and characterized by consumer mistrust is the used-car industry. Gallup’s polls on the trustworthiness of professions show that Americans consistently rank car salespeople as one of the least trusted groups (Gallup, 2016, 2017, 2018).

REFERENCES

1) Akerlof, G. A. (n.d.). The market for “lemons”: quality uncertainty and the market mechanism. Readings in the Economics of Contract Law, 24–28.

2) Bauer, R. (1960). Consumer Behavior as Risk Taking. Marketing: Critical Perspectives on Business and Management, 3, 13–19.

3) Brenan, M. (2017, December 26). Nurses Keep Healthy Lead as Most Honest, Ethical Profession. Retrieved from https://news.gallup.com/poll/224639/nurses-keep-healthy-lead-honest-ethical-profession.aspx?g_source=Economy&g_medium=newsfeed&g_campaign=tiles.

4) Brownstone, D. and Train, K.E. (1999). Forecasting New Product Penetration with Flexible Substitution Patterns. Journal of Econometrics, Vol. 89, 109-129.

5) Carter, C. (2009). A 50-State Report on Unfair and Deceptive Acts and Practices Statutes. A 50-State Report on Unfair and Deceptive Acts and Practices Statutes. Boston, MA: NATIONAL CONSUM ER LAW CENTER INC ®.

6) Choo, S., & Mokhtarian, P. (2004). What type of vehicle do people drive? The role of attitude and lifestyle in influencing vehicle type choice. Transportation Research A, 38, 201–222.

7) Darby, M., & Karni, E. (1973). Free Competition and the Optimal Amount of Fraud. The Journal of Law and Economics, 16(1), 67–88.

8) Emons, W., & Sheldon, G. (2009). The market for used cars: new evidence of the lemons phenomenon. Applied Economics, 41(22), 2867–2885.

9) Fisk, G. (1973). Systems Perspective on Automobile and Appliance Warranty Problems. The Journal of Consumer Affairs, 7(1), 37–55.

10) Gabbot, M. (1991). The Role of Product Cues in Assessing Risk in Second-Hand Markets. European Journal of Marketing, 25(9), 38–50.

11) Holton, R. (1969). Business and Government. Daedalus, 98(1), 41–59.

12) Jacobsen, B., Lee, J., Marqering, W., & Zhang, C., (2013). Gender Differences in Optimism and Asset Allocation. Journal of Economic Behavior and Orgnaization, 107, 630-651.

13) Kitamura, R., Golob, T.F., Yamamoto, T. and Wu, G. (2002). Accessibility and Auto Use in a Motorized Metropolis. TRB ID Number 00-2273, 79th Transportation Research Board Annual Meeting, Washington, DC.

14) Lave, C., & Train, K. (1979). A Disaggregate Model of Auto-Type Choice. Transportation Research Part A: Policy and Practice, 13, 1–9.

15) Leland, L. (1979). Quacks, Lemons, and Licensing: A Theory of Minimum Quality Standards. The Journal of Political Economy, 87(6), 1328-1346.

16) Mannering, F., & Mahmassani, H. (1985). Consumer valuation of foreign and domestic vehicle attributes: Econometric analysis and implications for auto demand. Transportation Research Part A: General, 19(3), 243–251.

17) Mannering, F., Winston, C. and Starkey, W. (2002). An Exploratory Analysis of Automobile Leasing by US Households. Journal of Urban Economics, Vol. 52, 154-176.

18) Manski, C., & Sherman, L. (1980). An Empirical Analysis of Household Choice Among Motor Vehicles. Transportation Research A, 14(A), 349–366.

19) McCarthy, P.S. and Tay, R.S. (1998), New Vehicle Consumption and Fuel Efficiency: A Nested Logit Approach, Transportation Research E, Vol. 34 No. 1, 39-51.

20) Mohammadian, A., & Miller, E. (2003). An Empirical Investigation of Household Vehicle Type Choice Decisions. Journal of Transportation Research Record, 1–22.

21) Prieto, M., & Caemmerer, B. (2013). An exploration of factors influencing car purchasing decisions. International Journal of Retail & Distribution Management, 41(10), 738–764.

22) Roselius, T. (1971). Consumer Rankings of Risk Reduction Methods. Journal of Marketing, 35(1), 56–61.

23) Stigler, G. (1961). The Economics of Information. The Journal of Political Economy, 69(3), 213-225.

24) Unfair & Deceptive Acts & Practices. (n.d.). Retrieved from https://www.nclc.org/issues/unfair-a-deceptive-acts-a-practices.html.

VOlUME 06 ISSUE 01 JANUARY 2023

Indexed In

Avatar Avatar Avatar Avatar Avatar Avatar Avatar Avatar Avatar Avatar Avatar Avatar Avatar Avatar Avatar Avatar