The Role of Leasing under Adverse Selection
The Role of Leasing under Adverse Selection ... most desirable used vehicle is the consumer off-lease variety ....”3 Moreover, advertisements of used cars for sale often specify whether a car is off-lease. This would hardly be highlighted if the perception 1From now on, for concreteness, we will refer to cars. However, our model is applicable to other markets as well. 2Polk’s analysis ... ................
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