Measuring Nash Equilibrium Consumption Externalities
AbstractWe 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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Bibliographic InfoPaper provided by Department of Economics, University of York in its series Discussion Papers with number 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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Household Economics; Nath Equilibirum; Externalities; Cross-Sectional Models; Models with Panel Data hazard; non-responsiveness; resource allocation;
Find related papers by JEL classification:
- C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Longitudinal Data; Spatial Time Series
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
- D62 - Microeconomics - - Welfare Economics - - - Externalities
This paper has been announced in the following NEP Reports:
- NEP-ALL-2004-05-26 (All new papers)
- NEP-COM-2004-05-16 (Industrial Competition)
- NEP-MIC-2004-05-16 (Microeconomics)
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