ASU research finds that Cash for Clunkers rebates were too high to prompt car upgrades
Green Car Congress
MARCH 25, 2019
Under the federal program, buyers could get a $3,500 or $4,500 rebate, depending on how much more efficient their new car was. When people build up an imaginary surplus over time, they view it as “income,” which they’re more likely to spend. Their paper is published in the Journal of Marketing. —Michael Wiles.
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