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Energy Demand with the Flexible Double-Logarithmic Functional Form

Author

Listed:
  • Gehuang D. Nan
  • Donald A. Murry

Abstract

A flexible double-logarithmic function form is developed to meet assumptions of consumer behavior. Then annual residential and commercial data (1970-87) are applied to this functional form to examine demand for petroleum products, electricity, and natural gas in California. The traditional double lo-linear functional form has shortcomings of constant elasticities. The regression equations in this study, with varied estimated elasticities, overcome some of these shortcomings. All short-run own-price elasticities are inelastic and all income elasticities are close to unity in this study. According to the short-run time-trend elasticities, consumers' fuel preference in California is electricity. The long-run income elasticities also indicate that the residential consumers will consume more electricity and natural gas as their energy budgets increase in the long run.

Suggested Citation

  • Gehuang D. Nan & Donald A. Murry, 1992. "Energy Demand with the Flexible Double-Logarithmic Functional Form," The Energy Journal, International Association for Energy Economics, vol. 0(Number 4), pages 149-160.
    • Handle: RePEc:aen:journl:1992v13-04-a08
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    Cited by:

    1. Nan, Gehuang D., 1995. "An energy Btu tax alternative," Resource and Energy Economics, Elsevier, vol. 17(3), pages 291-305, November.
    2. Dagher, Leila, 2012. "Natural gas demand at the utility level: An application of dynamic elasticities," Energy Economics, Elsevier, vol. 34(4), pages 961-969.
    3. Li, Raymond & Woo, Chi-Keung & Tishler, Asher & Zarnikau, Jay, 2022. "Price responsiveness of commercial demand for natural gas in the US," Energy, Elsevier, vol. 256(C).

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    JEL classification:

    • F0 - International Economics - - General

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