Show simple item record

dc.contributor.authorWeng, Weifeng
dc.contributor.authorMount, Timothy D.
dc.date.accessioned2018-08-21T17:09:09Z
dc.date.available2018-08-21T17:09:09Z
dc.date.issued1997-02-01
dc.identifier.urihttps://hdl.handle.net/1813/57698
dc.descriptionWP 1997-02 February 1997
dc.description.abstractGeneralized Logit models of demand systems for energy and other factors have been shown to work well in comparison with other popular models, such as the Almost Ideal Demand System and the TransLog model. The main reason is that the derived price elasticities are robust when expenditure shares are small, as they are for electricity and fuels. A number of different versions of the Generalized Logit model have been applied in the literature, and the primary objective of the paper is to determine which one is the best. Using annual data for energy demand in the USA at the state level, the final model selected is similar to a simple form that was originally proposed by Considine. A second objective of the paper is to demonstrate that the estimated elasticities are sensitive to the units specified for prices, and to show how price scales should be estimated as part of the model.
dc.description.sponsorshipThe authors wish to thank the New York Department of Public Service, the Cornell Institute for Social and Economic Research (CISER), and the College of Agricultural and Life Sciences for supporting this research.
dc.language.isoen_US
dc.publisherCharles H. Dyson School of Applied Economics and Management, Cornell University
dc.titleDEMAND SYSTEMS FOR ENERGY FORECASTING: PRACTICAL CONSIDERATIONS FOR ESTIMATING A GENERALIZED LOGIT MODEL
dc.typearticle
dcterms.licensehttp://hdl.handle.net/1813/57595


Files in this item

Thumbnail

This item appears in the following Collection(s)

  • Working Papers
    Working Papers published by the Charles H. Dyson School of Applied Economics and Management, Cornell University

Show simple item record

Statistics