WP36
The Hidden Dynamics of Used-Car Markets: Price Discovery, Inventory Liquidity, and Strategic Dealer Behavior
Evidence from a Daily Panel of 273,265 Quebec Listings
The paper studies price discovery and liquidity in the Quebec used-car market with a daily panel of 273,265 dealer listings observed by the aggregator Auto-Ka between 12 August and 1 November 2026, with every asking-price change and listing disappearance recorded about seven times a day. Hedonic models with flexible…