Do Consumers Recognize the Value of Fuel Economy? Evidence from Used Car Prices and Gasoline Price Fluctuations

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Are consumers willing to pay to let cars drive for them? Analyzing response to autonomous vehicles (2017, background): “…that leverage variation in gasoline prices, however, suggest that consumers fully value or only slightly undervalue fuel cost savings in new vehicle markets and only moderately undervalue these savings in used vehicle markets (Allcott and Wozny, 2014; Busse et al., 2013; Sallee et al., 2016).”
Internal and external barriers to energy efficiency: which role for policy interventions? (2019, background): “Sallee et al. (2016), on the contrary, report that future fuel costs are not undervalued.”
Vehicle Scrappage and Gasoline Policy (2013, background): “…car market, a relation we will take advantage of in the first stage of our instrumental variables approach: Busse, Knittel, and Zettelmeyer (2013), Sallee, West, and Fan (2010), and Allcott and Wozny (2012) all consider the nexus between gasoline price changes and changes in used vehicle prices.”