New hedonic technique for estimating attribute demand: an application to the demand for automobile fuel efficiency

Journal Article · Wed Aug 01 04:00:00 EDT 1984 · Rev. Econ. Stat.; (United States)

DOI:https://doi.org/10.2307/1924997· OSTI ID:6463399

Atkinson, S E; Halvorsen, R

A new hedonic procedure is applied to estimate the effects of gasoline price on the demand for automobile attributes and fuel efficiency. Direct application of a comparative statics analysis circumvents the problems of identification and severe multicollinearity affecting previous hedonic studies. The results indicate that the effect of induced changes in automobile attributes in response to increases in the price of gasoline is to substantially increase fuel efficiency. The estimated elasticities of fuel efficiency with respect to the price of gasoline imply that the long-run own-price elasticity of demand for gasoline is greater than unity. 31 references.

• Research Organization: Univ. of Wyoming, Laramie
• OSTI ID: 6463399
• Journal Information: Rev. Econ. Stat.; (United States), Journal Name: Rev. Econ. Stat.; (United States) Vol. 66:3; ISSN RECSA
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING, POLICY, AND ECONOMY
291000 -- Energy Planning & Policy-- Conservation
294002 -- Energy Planning & Policy-- Petroleum
32 ENERGY CONSERVATION, CONSUMPTION, AND UTILIZATION
320203* -- Energy Conservation
Consumption
& Utilization-- Transportation-- Land & Roadway
AUTOMOBILES
CORRELATIONS
EFFICIENCY
ENERGY EFFICIENCY
ENGINEERING
EQUATIONS
FORECASTING
FUEL ECONOMY
FUELS
GASOLINE
HUMAN FACTORS ENGINEERING
LIQUID FUELS
PETROLEUM PRODUCTS
PRICES
VEHICLES