October 3, 2011

Demand for Gasoline is More Price-inelastic Than Commonly Thought

Michael Giberson A working paper from the UC-Berkeley Department of Agricultural and Resource Economics says that the demand for gasoline is more price-inelastic than typically thought. Here is the abstract, which points to publication selection bias as the culprit: One of the most frequently examined statistical relationships in energy economics has been the price elasticity …

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