Household adjustment to gasoline price change: an analysis using 9 years of US survey data
This paper examines the dynamics and composition of household adjustment to changes in the real price of gasoline using a panel of US households. By decomposing the demand for gasoline into the demand for vehicle miles traveled and the demand for household composite miles per gallon, we are able to...
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| Veröffentlicht in: | Energy economics 1999-02, Vol.21 (1), p.37-52 |
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| container_title | Energy economics |
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| creator | Puller, Steven L Greening, Lorna A |
| description | This paper examines the dynamics and composition of household adjustment to changes in the real price of gasoline using a panel of US households. By decomposing the demand for gasoline into the demand for vehicle miles traveled and the demand for household composite miles per gallon, we are able to add rich detail to the description of how households respond to gasoline price changes. While obtaining total price elasticity estimates well within the range found in the literature, we find that consumers initially respond to a price rise with a much larger decrease in consumption than would be indicated by the total elasticity. In addition, households respond to price changes by adjusting vehicle miles traveled more than composite miles per gallon in the year after a price change. |
| doi_str_mv | 10.1016/S0140-9883(98)00006-1 |
| format | Article |
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By decomposing the demand for gasoline into the demand for vehicle miles traveled and the demand for household composite miles per gallon, we are able to add rich detail to the description of how households respond to gasoline price changes. While obtaining total price elasticity estimates well within the range found in the literature, we find that consumers initially respond to a price rise with a much larger decrease in consumption than would be indicated by the total elasticity. In addition, households respond to price changes by adjusting vehicle miles traveled more than composite miles per gallon in the year after a price change.</abstract><cop>Amsterdam</cop><pub>Elsevier B.V</pub><doi>10.1016/S0140-9883(98)00006-1</doi><tpages>16</tpages></addata></record> |
| fulltext | fulltext |
| identifier | ISSN: 0140-9883 |
| ispartof | Energy economics, 1999-02, Vol.21 (1), p.37-52 |
| issn | 0140-9883 1873-6181 |
| language | eng |
| recordid | cdi_proquest_miscellaneous_38693332 |
| source | RePEc; PAIS Index; Periodicals Index Online; ScienceDirect Journals (5 years ago - present) |
| subjects | Applied sciences Behavioral research Consumer behavior Economic data Economic models Energy Energy economics Energy industry Energy policy Energy prices Exact sciences and technology Fees and charges Fossil fuels and derived products Fuel consumption Gasoline Gasoline demand General, economic and professional studies Household consumption Households Methodology. Modelling Oil Petrol Power demand Price elasticity Prices Statistical analysis Studies Supply & demand Survey data Surveys U.S.A |
| title | Household adjustment to gasoline price change: an analysis using 9 years of US survey data |
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