Misspecifications in econometric models can result in misestimated coefficients.An improved method for specifying econometric models is presented. The mean square error of an empirical best linear unbiased predictor of an individual drawing for the dependent variable of an improved model is derived. These ideas are illustrated using certain misspecified and improved models of the demand for gas...

Most studies suggest that environmental taxes are regressive, and thus are unattractive policy options. We consider the distributional effects of a gasoline tax increase using three welfare measures and under three scenarios for gas tax revenue use. To incorporate behavioral responses we use Consumer Expenditure Survey data to estimate a consumer demand system that includes gasoline, other good...

We investigate whether car buyers are myopic about future fuel costs. We estimate the e↵ect of gasoline prices on short-run equilibrium prices of cars of di↵erent fuel economies. We then compare the implied changes in willingness-to-pay to the associated changes in expected future gasoline costs for cars of di↵erent fuel economies in order to calculate implicit discount rates. Using di↵erent as...

Although gasoline blending streams exhibit widely varying sulfur concentrations, significant quantities of low-sulfur motor gasoline cannot be manufactured by reallocation of existing components without substantial sacrifices in the useful properties of the remaining fuels having normal sulfur levels. To meet the anticipated demand for low-sulfur unleaded gasoline which may be required for cata...

The impact on the usage of commercial fuels such as gasoline in automobile vehicles is an alarm in terms of health effects as it emits higher level of carbon dioxide to the atmosphere. In addition, the need and demand for Gasoline products are in the increasing trend because of more number of vehicles which are on road and Governments plan to increase the cost of fuel. As slowly the scarcity of...

We apply nonparametric regression models to estimation of demand curves of the type most often used in applied research. From the demand curve estimators we derive estimates of exact consumers surplus and deadweight loss, that are the most widely used welfare and economic efficiency measures in areas of economics such as public finance. We also develop tests of the symmetry and downward sloping...

Under the situation that single prediction can’t meet the accuracy requirements, combined forecasting method is usually the first choice. Using the history data of domestic oil products consumption, by optimized combination of grey forecasting GM(1, 1) model and artificial neural network, the combined forecasting model was built. It can be getting from the combined forecasting model that on the...

This paper uses analytical and numerical models to illustrate how the presence of other distortions within the transport system changes the overall welfare effect of a congestion tax. These other distortions include a transit fare subsidy, congestion on competing (unpriced) routes, accident externalities, gasoline taxes, and pollution externalities. Each of these pre-existing distortions can su...