UNLV-Econ-WPS-2026-004
Hedonics of Used Car Attributes on Market Price
Working paper notice: This paper is a preliminary research output. It has undergone editorial screening but has not undergone external peer review. It may be revised.
Paper record
- Issue
- Fall 2025
- Repository issue
- Volume 3, Issue 1
- Series number
- UNLV-Econ-WPS-2026-004
- Citable publication date
- OAsis online date
- Current version
- Current version ·
- Research field
- Applied Microeconomics
- Pages
- 1-18
Abstract
This paper uses Rosen's paper on hedonic pricing as a framework to analyze the determinants of used car prices found in Craigslist. Using cleaned data, we observe over 43,000 listings from 2005 to 2020 and investigate factors that affect used car prices and how they interact in this market. Results show that odometer readings and condition are the strongest factors that determine price, while manufacturers, paint color, drive type, fuel type, size, and year have more ambiguous effects that depend on certain perceived attributes or conditions.
Keywords
Hedonic Pricing, Ordinary Least Squares, Consumer Preferences, Product
Version history
- Current version Current