"An NBER digest for this paper is available.Researchers estimating the demand for energy-using durable goods must specify consumers' beliefs about future energy prices. Policy-relevant inference hinges on this specification, yet there is little direct evidence on the nature of consumer beliefs....

We document a strong correlation in the brand of automobile chosen by parents and their adult children, using data from the Panel Study of Income Dynamics. This correlation could represent transmission of brand preferences across generations, or it could result from correlation in family...

We document a strong correlation in the brand of automobile chosen by parents and their adult children, using data from the Panel Study of Income Dynamics. This correlation could represent transmission of brand preferences across generations, or it could result from correlation in family...