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Estimating the price elasticity of fuel demand with stated preferences derived from a situational approach
https://orcid.org/0000-0002-2875-8759
AbstractAn evidence-based policy debate about future fuel demand requires reliable estimates for fuel price elasticities. Such predictions are often based on revealed preference (RP) data. However, this procedure will only yield reliable results in the absence of severe structural discontinuities. In order to overcome this potential limitation we used a situational stated preference (SP) survey to estimate the response to hypothetical fuel price changes beyond the scope of previous observations. We elicit fuel price elasticities for price increases up to four Euros per liter and find that the situational approach predicts the actual responses to previously observed fuel price changes very well. We conclude that applying a situational approach is particularly useful, if behavioral predictions for unprecedented (non-monetary) policy interventions or supply side shocks are of interest that go beyond the reach of standard RP approaches.
Estimating the price elasticity of fuel demand with stated preferences derived from a situational approach
https://orcid.org/0000-0002-2875-8759
AbstractAn evidence-based policy debate about future fuel demand requires reliable estimates for fuel price elasticities. Such predictions are often based on revealed preference (RP) data. However, this procedure will only yield reliable results in the absence of severe structural discontinuities. In order to overcome this potential limitation we used a situational stated preference (SP) survey to estimate the response to hypothetical fuel price changes beyond the scope of previous observations. We elicit fuel price elasticities for price increases up to four Euros per liter and find that the situational approach predicts the actual responses to previously observed fuel price changes very well. We conclude that applying a situational approach is particularly useful, if behavioral predictions for unprecedented (non-monetary) policy interventions or supply side shocks are of interest that go beyond the reach of standard RP approaches.
Estimating the price elasticity of fuel demand with stated preferences derived from a situational approach
https://orcid.org/0000-0002-2875-8759
AbstractAn evidence-based policy debate about future fuel demand requires reliable estimates for fuel price elasticities. Such predictions are often based on revealed preference (RP) data. However, this procedure will only yield reliable results in the absence of severe structural discontinuities. In order to overcome this potential limitation we used a situational stated preference (SP) survey to estimate the response to hypothetical fuel price changes beyond the scope of previous observations. We elicit fuel price elasticities for price increases up to four Euros per liter and find that the situational approach predicts the actual responses to previously observed fuel price changes very well. We conclude that applying a situational approach is particularly useful, if behavioral predictions for unprecedented (non-monetary) policy interventions or supply side shocks are of interest that go beyond the reach of standard RP approaches.
Estimating the price elasticity of fuel demand with stated preferences derived from a situational approach
Hössinger, Reinhard (author) / Link, Christoph (author) / Sonntag, Axel (author) / Stark, Juliane (author)
Transportation Research Part A: Policy and Practice ; 103 ; 154-171
2017-06-05
18 pages
Article (Journal)
Electronic Resource
English
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