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Imperfect Mileage Information and Changing Utility : A Model and Survey Results
Oleh:
Kinsey, Jean
;
Roe, Terry
;
Senauer, Benjamin
Jenis:
Article from Bulletin/Magazine
Dalam koleksi:
The Journal of Consumer Affairs vol. 20 no. 2 (1986)
,
page 155-172.
Topik:
utility
;
mileage
;
utility
Ketersediaan
Perpustakaan Pusat (Semanggi)
Nomor Panggil:
JJ1
Non-tandon:
1 (dapat dipinjam: 0)
Tandon:
tidak ada
Lihat Detail Induk
Isi artikel
This paper extends work which integrates misinformation into consumer utility theory. It provides a framework for measuring the cost of misinformation or the value of improved information. If automobile purchases are based on imperfect gasoline mileage information, a discrepancy results between consumers' expected and actual fuel expenditures. Based on a survey of new car buyers, the empirical analysis yields estimates of the private and social cost of inaccuracies in automobile buyers' pre - purchase gasoline mileage estimates. The reliability of mileage information varied from different sources, but many consumers found the EPA fuel - economy ratings relatively unreliable.
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