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How vehicle market is segmented and influenced by subsidy policy: A theoretical study
Chen, Xiao1; Wu, Tian2,3,4; Zheng, Rui5; Guo, Xiaoxian6
Corresponding AuthorWu, Tian(wutian@amss.ac.cn) ; Zheng, Rui(zhengrui@psych.ac.cn)
2018-12-01
Source PublicationTRANSPORTATION RESEARCH PART A-POLICY AND PRACTICE
ISSN0965-8564
Volume118Pages:776-782
AbstractThis paper studies how vehicle market is segmented among consumers and what impacts subsidy policy may have on segmentation. With constant elasticity of substitution utility function and unit demand, we find positive market share for both high-end and low-end vehicles, but not necessary for middle-end vehicles. Market segmentation may have two regimes according to different levels of subsidy on electric vehicles (EVs), and only a sufficiently high subsidy allows for the existence of low type EV market share welcomed by median income consumers. An EV subsidy cut will definitely crowd out the market share of high type EV and expand that of internal combustion engine vehicle (ICEV). And given in a regime where low type EVs survive, EV subsidy cut's influence on low type EV market share is ambiguous, which depends on the relative consumer density around decision cutoff points.
KeywordElectric vehicles Vehicle consumption behavior Subsidy scheme Market segmentation Prospect theory
DOI10.1016/j.tra.2018.10.026
Indexed BySCI
Language英语
Funding OrganizationNational Natural Science Foundation of China ; Special fund for research cooperation of the faculty and research institute of the University of Chinese Academy of Sciences
Funding ProjectSpecial fund for research cooperation of the faculty and research institute of the University of Chinese Academy of Sciences[Y652025Y00] ; National Natural Science Foundation of China[71771209] ; National Natural Science Foundation of China[71390331] ; National Natural Science Foundation of China[71390331] ; National Natural Science Foundation of China[71771209] ; Special fund for research cooperation of the faculty and research institute of the University of Chinese Academy of Sciences[Y652025Y00]
WOS Research AreaBusiness & Economics ; Transportation
WOS SubjectEconomics ; Transportation ; Transportation Science & Technology
WOS IDWOS:000452941000052
PublisherPERGAMON-ELSEVIER SCIENCE LTD
WOS KeywordPRODUCT DIFFERENTIATION ; BRAND CHOICE ; PRICE ; SELECTION ; AVERSION ; MODEL
Citation statistics
Cited Times:1[WOS]   [WOS Record]     [Related Records in WOS]
Document Type期刊论文
Identifierhttp://ir.psych.ac.cn/handle/311026/27771
Collection中国科学院行为科学重点实验室
Corresponding AuthorWu, Tian; Zheng, Rui
Affiliation1.Tsinghua Univ, Sch Econ & Management, Beijing, Peoples R China
2.Chinese Acad Sci, Acad Math & Syst Sci, NCMIS, Beijing, Peoples R China
3.Univ Chinese Acad Sci, Sch Econ & Management, Beijing, Peoples R China
4.Chinese Acad Sci, Key Lab Big Data Min & Knowledge Management, Beijing, Peoples R China
5.Chinese Acad Sci, Inst Psychol, Key Lab Behav Sci, Beijing, Peoples R China
6.China Petr Technology & Dev Corp, Beijing, Peoples R China
Recommended Citation
GB/T 7714
Chen, Xiao,Wu, Tian,Zheng, Rui,et al. How vehicle market is segmented and influenced by subsidy policy: A theoretical study[J]. TRANSPORTATION RESEARCH PART A-POLICY AND PRACTICE,2018,118:776-782.
APA Chen, Xiao,Wu, Tian,Zheng, Rui,&Guo, Xiaoxian.(2018).How vehicle market is segmented and influenced by subsidy policy: A theoretical study.TRANSPORTATION RESEARCH PART A-POLICY AND PRACTICE,118,776-782.
MLA Chen, Xiao,et al."How vehicle market is segmented and influenced by subsidy policy: A theoretical study".TRANSPORTATION RESEARCH PART A-POLICY AND PRACTICE 118(2018):776-782.
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