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Measuring Nash Equilibrium Consumption Externalities

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  • Emanuela Randon

Abstract

We estimate Nash equilibrium consumption externalities in household petrol budget shares. The reaction curves are obtained from an AIDS with petrol consumption externality. Using a continuous set of ten year cross sections from FES (1991-2000), we analyse the externality generated by households living in Newcastle area (UK). In each year, income decile cohorts are created. Panel techniques are used after pooling cross section estimates have been discussed. Using non nested procedures, two restricted models are compared: the cohort specific externality effect and the single popular case. The single popular is the model accepted by the data.

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Paper provided by Department of Economics, University of York in its series Discussion Papers with number 04/08.

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Handle: RePEc:yor:yorken:04/08

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Postal: Department of Economics and Related Studies, University of York, York, YO10 5DD, United Kingdom
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Web page: http://www.york.ac.uk/economics/
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Keywords: Household Economics; Nath Equilibirum; Externalities; Cross-Sectional Models; Models with Panel Data hazard; non-responsiveness; resource allocation;

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