کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5060677 1371809 2012 5 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Is there an energy paradox in fuel economy? A note on the role of consumer heterogeneity and sorting bias
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Is there an energy paradox in fuel economy? A note on the role of consumer heterogeneity and sorting bias
چکیده انگلیسی

From the previous literature, it can be found that consumers tend to undervalue discounted future energy costs in their purchase decisions for energy-using durables. We show that this finding could, in part, result from ignoring consumer heterogeneity in empirical analyses as opposed to true undervaluation.

► We provide evidence that previous estimates of the energy paradox are downward biased. ► Previous estimates of the relationship between lifetime fuel cost and vehicle price have ignored consumer heterogeneity. ► Heterogeneous consumer sorting across the product space may erroneously suggest undervaluation where none exists. ► Using realistic data generating parameters we estimate the size of the undervaluation with a Monte Carlo simulation. ► Naïve estimation techniques recover undervaluation on the order of previous estimates in the literature.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Economics Letters - Volume 115, Issue 1, April 2012, Pages 44-48
نویسندگان
, , ,