Analyzing demand behavior: a study of energy elasticities
This book takes econometric studies as data, it examines their assumptions, investigates their methodologies, contrasts the data sets they use, and compares their results. Pitfalls, sources of error in interpretation, and advantages and disadvantages of alternative procedures are laid out for demand estimators. The analysis demonstrates that estimates can be substantially different, depending on the choices the researcher makes among alternative statistical models, types of data, and estimation methods. After an introductory chapter, Chapter 2 presents the analytical basis for comparing and evaluating the econometric studies of energy demand. Starting from the economic concepts of demand common to these studies, the discussion focuses on the major methodological issues that arise in translating the theory into testable hypotheses about demand behavior. Chapters 3 through 6 discuss studies pertaining to electricity, natural gas, petroleum, and coal, according to consuming sector (residential, commercial, industrial, transportation, and electricity generation) and by modeling technique and type of data analyzed. This organization is intended to group the statistical results by common procedure and data in order to highlight their similarities and differences. The last chapter draws a number of conclusions about the empirical results and estimation methods reviewed. The conclusions about measures of price elasticity focus on the question of reliability and which measures may be regarded as most defensible.
- OSTI ID:
- 5814857
- Country of Publication:
- United States
- Language:
- English
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Related Subjects
290100 -- Energy Planning & Policy-- Energy Analysis & Modeling
292000* -- Energy Planning & Policy-- Supply
Demand & Forecasting
293000 -- Energy Planning & Policy-- Policy
Legislation
& Regulation
CARBONACEOUS MATERIALS
COAL
COMMERCIAL SECTOR
DECISION MAKING
DEMAND
ECONOMETRICS
ECONOMIC ELASTICITY
ECONOMICS
ELECTRIC POWER
ENERGY DEMAND
ENERGY POLICY
ENERGY SOURCES
FLUIDS
FOSSIL FUELS
FUEL GAS
FUEL OILS
FUELS
GAS FUELS
GASES
GASOLINE
GOVERNMENT POLICIES
LIQUID FUELS
MANUFACTURING
MARGINAL-COST PRICING
MATERIALS
MATHEMATICAL MODELS
NATURAL GAS
NORTH AMERICA
OILS
ORGANIC COMPOUNDS
OTHER ORGANIC COMPOUNDS
PETROLEUM PRODUCTS
POWER
PRICES
RESIDENTIAL SECTOR
USA