Used Car Market and Fuel Pricing
When I was planning on buying a car. I thought I'll buy a used car. Although I was fully aware of George Akerlof 's theory about second hand car market, I decided to take a shot at it. Because the "reasonable man" , that we so often read about in economics, often has reasons beyond economics. Reasons like : Leaving the country; don't know what to do with the car; Bought a new car there is no place to park my old car; This car is jinxed! So I downloaded data from Cardheko and few other sites and started my cherry hunt. I was convinced that I could use analytics to pick my cherry. Penny (to the Blogger): "Honey, I know you think you are explaining yourselves but you are not." Ok, George Akeflof's Nobel winning theory suggest that there will be no good cars in a used car market because they don't fetch a fair price. And he refers to good cars as a Cher...