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THEORY AND EMPIRICAL FOUNDATION FOR ENERGY POLICY DESIGNED TO PROMOTE U.S. MOTOR GASOLINE CONSERVATION.

Analyzes the motor gasoline demand and the reaction that consumers have on gasoline price changes by deriving the United States' gasoline demand function under different theoretical conditions. Estimation of demand equations using annual time series data for the period 1960 to 1975; Superior statis...

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Published in:American Economist Vol. 29; no. 1
Main Authors: Williams, Harold R., Mount, Randall I.
Format: Article
Published: Sage Publications Inc. Spring85
Subjects:
Demand function
Gas prices
Consumer behavior
Economic demand
Mathematical models
United States
Online Access:View this record in EBSCOhost
Summary:Analyzes the motor gasoline demand and the reaction that consumers have on gasoline price changes by deriving the United States' gasoline demand function under different theoretical conditions. Estimation of demand equations using annual time series data for the period 1960 to 1975; Superior statistical fit given by the unlagged per capita money demand model; Indications of a high inelastic nature of demand.