Accession Number : AD0786604

Title :   The Price Elasticity of Residential Energy Use,

Corporate Author : RAND CORP SANTA MONICA CALIF

Personal Author(s) : Anderson,Kent P.

Report Date : FEB 1974

Pagination or Media Count : 23

Abstract : The conclusions of this paper are offered as conjectures rather than as matters of fact, since they rest upon a number of interesting clues rather than decisive proofs. With respect to estimation techniques: Aggregation across different household energy-using functions may lead to acceptable estimates of the own-price elasticities of total consumption but almost surely will produce erroneous estimates of the cross-price elasticities. As regards household energy-consumption behavior: The difference between the own-price elasticity of total consumption and that of saturation is a measure of the responsiveness of 'conservation' to price.

Descriptors :   *Economics, *Residential section, Energy, Fuel oil, Coal, Liquefied natural gas, Estimates, Electricity, Economic models

Subject Categories : Economics and Cost Analysis

Distribution Statement : APPROVED FOR PUBLIC RELEASE