Cho, Sungjin; Rust, John - In: Review of Economic Studies 77 (2010) 2, pp. 560-594
Why is the price of renting an automobile "flat" as a function of its age or odometer value? Specifically, why is it that car rental companies do not offer customers the option of renting older cars at a discount, instead of offering only relatively new cars at full price? We also tackle a...