Burton Abrams and George Parsons of the University of Delaware evaluate the efficiency of the recently introduced 'Cash for Clunkers' program and conclude that the cost exceeds the benefit by approximately $2000 per vehicle.
Source: Abrams, Burton A. and Parsons, George R. (2009) "Is CARS a Clunker?," The Economists' Voice: Vol. 6 : Iss. 8, Article 4. DOI: 10.2202/1553-3832.1638
Available at: http://www.bepress.com/ev/vol6/iss8/art4
