IDEAS home Printed from https://ideas.repec.org/a/kap/iaecre/v13y2007i4p433-44210.1007-s11294-007-9108-9.html
   My bibliography  Save this article

The Consumer’s Micro-Micro Gasoline Buying Decision

Author

Listed:
  • Jannett Highfill
  • Michael McAsey

Abstract

A “micro-micro” consumer problem of gasoline purchases is examined using daily price data. Comparing the optimizing consumer with one who buys gasoline at random, the paper finds optimizers save about 4% of their annual gasoline bill. The paper also provides some evidence about the costs of non-optimal gasoline buying strategies. Copyright International Atlantic Economic Society 2007

Suggested Citation

  • Jannett Highfill & Michael McAsey, 2007. "The Consumer’s Micro-Micro Gasoline Buying Decision," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 13(4), pages 433-442, November.
    • Handle: RePEc:kap:iaecre:v:13:y:2007:i:4:p:433-442:10.1007/s11294-007-9108-9
    DOI: 10.1007/s11294-007-9108-9
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1007/s11294-007-9108-9
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1007/s11294-007-9108-9?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Espey, Molly, 1998. "Gasoline demand revisited: an international meta-analysis of elasticities," Energy Economics, Elsevier, vol. 20(3), pages 273-295, June.
    2. Nicol, C. J., 2003. "Elasticities of demand for gasoline in Canada and the United States," Energy Economics, Elsevier, vol. 25(2), pages 201-214, March.
    3. Kui-Yin Cheung & Elspeth Thomson, 2004. "The Demand for Gasoline in China: A Cointegration Analysis," Journal of Applied Statistics, Taylor & Francis Journals, vol. 31(5), pages 533-544.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Tilov, Ivan & Weber, Sylvain, 2023. "Heterogeneity in price elasticity of vehicle kilometers traveled: Evidence from micro-level panel data," Energy Economics, Elsevier, vol. 127(PA).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. repec:kap:iaecre:v:13:y:2007:i:4:p:433-442 is not listed on IDEAS
    2. Dora Gicheva & Justine Hastings & Sofia Villas-Boas, 2007. "Revisiting the Income Effect: Gasoline Prices and Grocery Purchases," NBER Working Papers 13614, National Bureau of Economic Research, Inc.
    3. Jonathan E. Hughes & Christopher R. Knittel & Daniel Sperling, 2008. "Evidence of a Shift in the Short-Run Price Elasticity of Gasoline Demand," The Energy Journal, International Association for Energy Economics, vol. 29(1), pages 113-134.
    4. Scott, K. Rebecca, 2015. "Demand and price uncertainty: Rational habits in international gasoline demand," Energy, Elsevier, vol. 79(C), pages 40-49.
    5. Thomas M. Fullerton, Jr. & Jorge A. Ibarra Salazar & Mario Elizalde, 2015. "Microeconomic Gasoline Consumption Anomalies in Mexico: 1997-2007," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 5(4), pages 709-722, April.
    6. Havranek, Tomas & Irsova, Zuzana & Janda, Karel, 2012. "Demand for gasoline is more price-inelastic than commonly thought," Energy Economics, Elsevier, vol. 34(1), pages 201-207.
    7. Radchenko, Stanislav & Tsurumi, Hiroki, 2006. "Limited information Bayesian analysis of a simultaneous equation with an autocorrelated error term and its application to the U.S. gasoline market," Journal of Econometrics, Elsevier, vol. 133(1), pages 31-49, July.
    8. Scott, K. Rebecca, 2011. "Demand and price volatility: rational habits in international gasoline demand," CUDARE Working Papers 121931, University of California, Berkeley, Department of Agricultural and Resource Economics.
    9. Bonilla, David & Schmitz, Klaus E. & Akisawa, Atsushi, 2012. "Demand for mini cars and large cars; decay effects, and gasoline demand in Japan," Energy Policy, Elsevier, vol. 50(C), pages 217-227.
    10. Xavier Labandeira & José M. Labeaga & Miguel Rodríguez, "undated". "Microsimulating the Effects of Household Energy Price Changes in Spain," Studies on the Spanish Economy 196, FEDEA.
    11. Leonid Galchynskyi, 2020. "Estimation of the price elasticity of petroleum products’ consumption in Ukraine," Equilibrium. Quarterly Journal of Economics and Economic Policy, Institute of Economic Research, vol. 15(2), pages 315-339, June.
    12. Chen, Haotian & Smyth, Russell & Zhang, Xibin, 2017. "A Bayesian sampling approach to measuring the price responsiveness of gasoline demand using a constrained partially linear model," Energy Economics, Elsevier, vol. 67(C), pages 346-354.
    13. Setyani Dwi Lestari & Amir Indrabudiman & Wuri Septi Handayani & Teguh Sugiarto, 2019. "Estimation with Macroeconomic Variables in Long-Term Elasticity of Gasoline Consumption," International Journal of Energy Economics and Policy, Econjournals, vol. 9(1), pages 326-329.
    14. Leonardo Chaves Borges Cardoso & Maurício Vaz Lobo Bittencourt & Alexandre Alves Porsse, 2014. "Demanda Por Combustíveis Leves No Brasil: Uma Abordagem Utilizando Painéis Espaciais Dinâmicos," Anais do XLI Encontro Nacional de Economia [Proceedings of the 41st Brazilian Economics Meeting] 194, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    15. Havranek, Tomas & Kokes, Ondrej, 2015. "Income elasticity of gasoline demand: A meta-analysis," Energy Economics, Elsevier, vol. 47(C), pages 77-86.
    16. Nasser Al Dossary & Carol A. Dahl, 2009. "Is Global Gasoline Demand Still as Responsive to Price?," Working Papers 2009-01, Colorado School of Mines, Division of Economics and Business.
    17. Ling-Yun He & Sheng Yang & Dongfeng Chang, 2017. "Oil Price Uncertainty, Transport Fuel Demand and Public Health," IJERPH, MDPI, vol. 14(3), pages 1-19, March.
    18. Mauricio Vaz Lobo Bittencourt & Leonardo Chaves Borges Cardoso & Elena Grace Irwin, 2016. "Biofuels Policies And Fuel Demand Elasticities In Brazil: An Iv Approach," Anais do XLIII Encontro Nacional de Economia [Proceedings of the 43rd Brazilian Economics Meeting] 181, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    19. Dongfeng Chang & Apostolos Serletis, 2014. "The Demand For Gasoline: Evidence From Household Survey Data," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 29(2), pages 291-313, March.
    20. Sheng Yang & Ling-Yun He, 2015. "Oil price shocks, road transport pollution emissions and residents' health losses in China," Papers 1512.01742, arXiv.org.
    21. repec:wyi:journl:002107 is not listed on IDEAS
    22. Reyes, Orlando & Sánchez, Luis, 2016. "La demanda de gasolinas, gas licuado de petróleo y electricidad en el Ecuador: elementos para una reforma fiscal ambiental," Documentos de Proyectos 40629, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).

    More about this item

    Keywords

    Gasoline; Consumer; Value of information; Q40;
    All these keywords.

    JEL classification:

    • Q40 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:iaecre:v:13:y:2007:i:4:p:433-442:10.1007/s11294-007-9108-9. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.