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A large amount of work in residential electricity demand has relied on logit estimation of a disaggregated appliance stock. (See the seminal work by McFadden et al., 1977.) While this approach may be suitable for certain types of models with certain goals in mind, a simple formulation of an...
Persistent link: https://www.econbiz.de/10004983954
Following the seminal work of McFadden. Puig, and Kirschner (1977) and the general availability of national microdata sets, residential energy demand studies have been conducted for electricity, natural gas, fuel oil. LP gas, and wood (see Garbacz, 1984, 1985). Using the National Interim Energy...
Persistent link: https://www.econbiz.de/10004983971
The logarithmic flow models generate elasticity estimates for prices that generally exceed estimates of recent studies both for the short run and the long run. This holds true over gasoline, diesel, and total motorfuel models. The linear gasoline results for price elasticity are in the range of...
Persistent link: https://www.econbiz.de/10004984370