Kinetic Analysis of Quality, Utility and Price Changes of the Second-HandCars in Poland

Pawel Luka and Krystyna Kwiatkowska-Sienkiewicz ()
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Krystyna Kwiatkowska-Sienkiewicz: Institute of Tourism, University of Rzeszow, Poland

Ovidius University Annals, Economic Sciences Series, 2010, vol. X, issue 1, 1219-1223

Abstract: In this paper the kinetic analysis of quality and utility based on the average market prices of 10 selected used cars, produced in years 1997-2005, were conducted. Price changes of all examined cars were described as a convex downward-sloping curve over time. On the basis of the price change kinetic functions, the orders of processes, the velocity rates, the acceleration rates, the resistance rate, as well as the attractiveness rates have been calculated. The price change velocity denotes marginal changes of second-hand car price during the time. The price change acceleration denotes the consumer downward pressure on the used car price, whereas the resistance rate represents supplier’s upward pressure on price. Attractiveness rate describe perceived quality and utility of a product. In that investigation the data attractiveness rate increase when dynamic indicator grew up. For each car model, the decrease in price caused increase in velocity rate and acceleration rate. Acceleration rate and resistance rate were presented in this paper as a new dynamic approach of measuring the pressures on price in supply/demand analysis.

Keywords: quality; utility; price changes; second-hand cars.kinetic analysis (search for similar items in EconPapers)
JEL-codes: C81 (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:10:y:2010:i:1:p:1219-1223

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