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Estimating the Price Elasticity of Demand for Water with Quasi Experimental Methods

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  • Klaiber, H. Allen
  • Smith, V. Kerry
  • Kaminsky, Michael
  • Strong, Aaron

Abstract

There is a growing recognition in both the professional and popular literatures that water scarcity is a key policy issue that is especially important in arid, urban settings with the prospects for shortfalls in water availability due to the effects of climate change. Those evaluating these types of water problems usually conclude prices must be reformed so that incentives facing water users change to reflect this scarcity. Demand functions provide the basic economic relationships required to understand how water use will respond to such changes. This paper proposes a new method for estimating the price elasticity of demand that meets policy needs and can accommodate the presence of increasing block pricing structures.

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Bibliographic Info

Paper provided by Agricultural and Applied Economics Association in its series 2010 Annual Meeting, July 25-27, 2010, Denver, Colorado with number 61039.

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Date of creation: 2010
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Handle: RePEc:ags:aaea10:61039

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Keywords: Water Demand Elasticity; Quasi Experiment; Climate Change; Consumer/Household Economics; Demand and Price Analysis; Environmental Economics and Policy; Resource /Energy Economics and Policy;

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  1. Sheila Olmstead & W. Michael Hanemann & Robert N. Stavins, 2007. "Water Demand Under Alternative Price Structures," NBER Working Papers 13573, National Bureau of Economic Research, Inc.
  2. Burtless, Gary & Hausman, Jerry A, 1978. "The Effect of Taxation on Labor Supply: Evaluating the Gary Negative Income Tax Experiments," Journal of Political Economy, University of Chicago Press, vol. 86(6), pages 1103-30, December.
  3. Peter C. Reiss & Matthew W. White, 2006. "Evaluating Welfare with Nonlinear Prices," NBER Working Papers 12370, National Bureau of Economic Research, Inc.
  4. Raj Chetty, 2008. "Sufficient Statistics for Welfare Analysis: A Bridge Between Structural and Reduced-Form Methods," NBER Working Papers 14399, National Bureau of Economic Research, Inc.
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