Abstract
The aim of this paper is to examine how a large-scale natural disaster impacts on the used-car market. This paper particularly tries to clarify what type of cars and what kinds of car features were demanded in damaged areas and when. We conduct a case study on the Great East Japan Earthquake and Tsunami of 2011 and compare the used-car prices in damaged areas and non-damaged areas. The finding of this paper is that after the Great East Japan Earthquake and Tsunami, cheaper used cars and used cars with larger carrying capacity were needed in damaged areas. In addition, we find that car types which people in the damaged areas needed depend on the phase of recovery.
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