Measuring Nash Equilibrium Consumption Externalities

Emanuela Randon ()

Discussion Papers from Department of Economics, University of York

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.

Keywords: Household Economics; Nath Equilibirum; Externalities; Cross-Sectional Models; Models with Panel Data hazard; non-responsiveness; resource allocation (search for similar items in EconPapers)
JEL-codes: C33 C72 D12 D62 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-com and nep-mic
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Persistent link: https://EconPapers.repec.org/RePEc:yor:yorken:04/08

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