FUNCTIONAL FORM ANALYSIS OF THE SHORT-RUN DEMAND FOR TRAVEL AND GASOLINE BY ONE-VEHICLE HOUSEHOLDS

The short-run elasticity of vehicle travel and gasoline demand is analyzed using gasoline purchase diary data for households in the US owning one vehicle. A Box-Cox method (iterative ordinary least squares) is used to determine best functional forms for each of four income quartiles in the sample. All income groups' transformation parameters are found to be close to 0.4. Thus, price elasticity increases with increasing fuel prices. Elasticity estimates at the mean for the three upper quartiles are -0.6, and that for the lowest quartile is approximately -0.5. (ERA citation 10:029741)

• Corporate Authors:

  Oak Ridge National Laboratory

  P. O. Box 2008
  Oak Ridge, TN  United States  37831
• Authors:
  • Greene, D L
  • Hu, P S
• Publication Date: 1985-4

Media Info

• Pagination: 23 p.

Subject/Index Terms

• TRT Terms: Automobile ownership; Gasoline; Households; Income; Least squares method; Travel demand
• Subject Areas: Highways; Planning and Forecasting; Society; I72: Traffic and Transport Planning;

Filing Info

• Accession Number: 00454404
• Record Type: Publication
• Report/Paper Numbers: CONF-8505141-1
• Files: TRIS
• Created Date: Jul 31 1986 12:00AM