ASU research finds that Cash for Clunkers rebates were too high to prompt car upgrades
Green Car Congress
MARCH 25, 2019
The Car Allowance Rebate System, which cost the government $3 billion and was dubbed “Cash for Clunkers,” was so popular that it ran for only a few weeks in the summer before running out of money. The data included more than 320,000 real vehicle transactions completed under Cash for Clunkers. Thaler, a professor at the University of Chicago, won the Nobel Prize for economics in 2017.