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Environmental Change and Hedonic Cost Functions for Automobiles

Author

Listed:
  • Steven Berry
  • Samuel Kortum
  • Ariel Pakes

Abstract

This paper focuses on how changes in the economic and regulatory environment have affected production costs and product characteristics in the automobile industry. We estimate cost functions characteristics. Then we examine how this cost surface has changed over time and how these changes relate to changes in gas prices and in emission standard regulations. We also briefly consider the related questions of how changes in automobile characteristics, and in the rate of patenting, are related to regulations and gas prices.

Suggested Citation

  • Steven Berry & Samuel Kortum & Ariel Pakes, 1996. "Environmental Change and Hedonic Cost Functions for Automobiles," NBER Working Papers 5746, National Bureau of Economic Research, Inc.
  • Handle: RePEc:nbr:nberwo:5746
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    Cited by:

    1. Popp, David & Newell, Richard G. & Jaffe, Adam B., 2010. "Energy, the Environment, and Technological Change," Handbook of the Economics of Innovation, Elsevier.
    2. Bento, Antonio M. & Li, Shanjun & Roth, Kevin, 2012. "Is there an energy paradox in fuel economy? A note on the role of consumer heterogeneity and sorting bias," Economics Letters, Elsevier, vol. 115(1), pages 44-48.
    3. Mark Bils & Peter J. Klenow, 2001. "Quantifying Quality Growth," American Economic Review, American Economic Association, vol. 91(4), pages 1006-1030, September.
    4. Jan De Loecker & Paul T. Scott, 2016. "Estimating market power Evidence from the US Brewing Industry," NBER Working Papers 22957, National Bureau of Economic Research, Inc.
    5. Jun, Seung-Pyo & Yoo, Hyoung Sun & Kim, Ji-Hui, 2016. "A study on the effects of the CAFE standard on consumers," Energy Policy, Elsevier, vol. 91(C), pages 148-160.
    6. West, Sarah E., 2004. "Distributional effects of alternative vehicle pollution control policies," Journal of Public Economics, Elsevier, vol. 88(3-4), pages 735-757, March.
    7. Barla, Philippe & Proost, Stef, 2012. "Energy efficiency policy in a non-cooperative world," Energy Economics, Elsevier, vol. 34(6), pages 2209-2215.
    8. Paul Scott, 2017. "Estimating Market Power: Evidence from the US Brewing Industry," 2017 Meeting Papers 389, Society for Economic Dynamics.
    9. Jan De Loecker & Paul T. Scott, 2016. "Estimating market power Evidence from the US Brewing Industry," NBER Working Papers 22957, National Bureau of Economic Research, Inc.

    More about this item

    JEL classification:

    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • L62 - Industrial Organization - - Industry Studies: Manufacturing - - - Automobiles; Other Transportation Equipment; Related Parts and Equipment

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