Description
Title: Second-Hand Products in Germany and the Economics of Waste Prevention
Abstract: People still view reuse as a “niche phenomenon,” and they appear to miss out on chances to buy and sell used goods. This paper applies a theoretical framework of transaction costs to explain the current consumption patterns, with a focus on the incentives and barriers to sell and buy second-hand goods as indicated in the literature. A representative online survey of 1023 German consumers, ages 16 and older, was conducted for this paper. The information was examined for statistically significant differences between various groups of economic actors who bought or sold used goods. The findings indicate that many households have valuable unused goods, but obstacles like doubts about the buyer’s dependability or the product’s quality make it difficult to switch to sustainable consumption. Even though consumers are aware that buying used would save money and help the environment, they still tend to prefer buying new products. Different types of transaction costs are significant explanatory variables that help explain this.
Keywords: circular economy; second-hand; reuse; transaction costs
Paper Quality: SCOPUS / Web of Science Level Research Paper
Subject: Economics
Writer Experience: 20+ Years
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