Miyawaki, Koji; Omori, Yasuhiro; Hibiki, Akira - Institute of Economic Research, Hitotsubashi University - 2010
approach to panel data, our study proposes a Bayesian hierarchical model incorporating the individual effect. The random … coefficients model result shows that the price and income elasticities are estimated to be negative and positive, respectively, and …, the AR(1) error component model suggests that the Japanese residential water demand does not have serial correlation. …