Functional forms and price elasticities in a discrete continuous choice model of the residential water demand

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dc.contributor.authorVásquez Lavín, Felipe
dc.contributor.authorHernández, J. I.
dc.contributor.authorPonce Oliva, Roberto
dc.contributor.authorOrrego, S. A.
dc.date.accessioned2018-03-15T21:05:08Z
dc.date.available2018-03-15T21:05:08Z
dc.date.issued2017
dc.description.abstractDuring recent decades, water demand estimation has gained considerable attention from scholars. From an econometric perspective, the most used functional forms include log-log and linear specifications. Despite the advances in this field and the relevance for policymaking, little attention has been paid to the functional forms used in these estimations, and most authors have not provided justifications for their selection of functional forms. A discrete continuous choice model of the residential water demand is estimated using six functional forms (log-log, full-log, log-quadratic, semilog, linear, and Stone-Geary), and the expected consumption and price elasticity are evaluated. From a policy perspective, our results highlight the relevance of functional form selection for both the expected consumption and price elasticity Plain Language Summary During recent decades, water demand estimation has gained considerable attention from scholars. From an econometric perspective, the most used functional forms include logarithmic and linear specifications. Despite the advances in this field and the relevance for policymaking, little attention has been paid to the functional forms used in these estimations, and most authors have not provided justifications for their selection of functional forms. A discrete continuous choice model of the residential water demand is estimated using six functional forms, and the expected consumption and price elasticity are evaluated. From a policy perspective, our results highlight the relevance of functional form selection for both the expected consumption and price elasticity.
dc.identifier.citationWater Resources Research, 2017, Volumen: 53, Número: 7, Páginas: 6296-6311
dc.identifier.urihttp://hdl.handle.net/11447/2044
dc.identifier.urihttp://dx.doi.org/10.1002/2016WR020250
dc.language.isoen
dc.subjectMunicipal water
dc.subjectElectricity
dc.subjectPerception
dc.titleFunctional forms and price elasticities in a discrete continuous choice model of the residential water demand
dc.typeArticle

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