ECONOMICS OF AUTOMOBILE LEASING - THE CALL OPTION VALUE

被引：8

作者：

MILLER, SE

机构：

[1] Department of Agricultural and Applied Economics, Clemson University, Clemson, South Carolina

来源：

JOURNAL OF CONSUMER AFFAIRS | 1995年 / 29卷 / 01期

关键词：

D O I：

10.1111/j.1745-6606.1995.tb00045.x

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Previous analyses of the automobile lease versus purchase decision have ignored the value of the call option embedded in closed-end leases with guaranteed buy back provisions. This paper shows that ignoring the value of this call option results in a bias against leasing in the lease versus purchase decision. Supporting evidence is provided by an empirical model of automobile lease rates.

引用

页码：199 / 218

页数：20