EconPapers    
Economics at your fingertips  
 

Formative Experiences and the Price of Gasoline

Christopher Severen and Arthur van Benthem

No 26091, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: Formative experiences shape behavior for decades. We document a striking feature about those who came of driving age during the oil crises of the 1970s: they drive less in the year 2000. The effect is not specific to these cohorts; price variation over time and across states indicates that gasoline price changes between ages 15–18 generally shift later-life travel behavior. Effects are not explained by recessions, income, or costly skill acquisition and are inconsistent with recency bias, mental plasticity and standard habit-formation models. Instead, they likely reflect formation of preferences for driving or persistent changes in its perceived cost.

JEL-codes: D12 D90 L91 Q41 R41 (search for similar items in EconPapers)
Date: 2019-07
Note: EEE
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed

Downloads: (external link)
http://www.nber.org/papers/w26091.pdf (application/pdf)

Related works:
Working Paper: Formative Experiences and the Price of Gasoline (2019) Downloads
Working Paper: Formative Experiences and the Price of Gasoline (2019) Downloads
Working Paper: Formative Experiences and the Price of Gasoline (2019) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:nbr:nberwo:26091

Ordering information: This working paper can be ordered from
http://www.nber.org/papers/w26091

Access Statistics for this paper

More papers in NBER Working Papers from National Bureau of Economic Research, Inc National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.. Contact information at EDIRC.
Bibliographic data for series maintained by ().

 
Page updated 2021-10-21
Handle: RePEc:nbr:nberwo:26091