Empirical analysis finds price changes significantly affect gasoline demand in automobiles, suggesting effective conservation policies.
This paper estimates empirical demand functions for premium gasoline. Specifically, it determines the effectiveness of policies designed to conserve gasoline by considering the effects of changes in gasoline prices on the demand for premium gasoline and by accounting for the differential effect of these changes on the size and composition of the existing stock of automobiles. Regression estimate is conducted.
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Cantillep et al. (1981) studied this question.
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