HEATING COSTS AND HOUSEHOLD WOOD STOVE ACQUISITION: A DISCRETE CHOICE DEMAND MODEL

Paul F. Scodari and Ian W. Hardie

Northeastern Journal of Agricultural and Resource Economics, vol. 14, issue 01, 6

Abstract: This paper examines the acquisition of wood stoves by New Hampshire households through use of a utility-maximizing discrete choice model. The analysis is based on the hypothesis that wood stoves are acquired to decrease the monetary costs of home-heating. Operating costs associated with heating with conventional fuel burning capital and with a combination of conventional and wood stove heating capital are estimated. These operating costs are used to estimate probabilities of 1979 wood stove acquisition for particular types of New Hampshire households.

Keywords: Resource/Energy; Economics; and; Policy (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:nejare:28935

DOI: 10.22004/ag.econ.28935

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