bbulkow
Well-Known Member
- First Name
- Brian
- Joined
- Aug 30, 2022
- Threads
- 24
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- 889
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- 729
- Location
- menlo park, california
- Vehicles
- Honda CRV
Sorry i don't have the url of the research, but as i understand gas consumption is measured as inelastic in california at prices lower than about 4.50 or 5.00.... and elastic above that. I believe that research was pre pandemic.Again opinions, not facts supported by citations. Unfortunately you are equivicating, i.e. you claimed people didn't cut back on gas usage when prices rise. I showed you they did and you switched to gas prices not going down when consumption is reduced. You have confused fixed cost with variable costs, then try and excuse that error with rhetoric about cost pre hour. As the saying goes, you are entitled to your opinions but you are not entitled to your facts. Get back to me when you can back up your opinion with verifiable facts.
Transportation, by car, with gas, being central to most american life, one would expect limited elasticity until prices are quite high.
In some sense the data is easy to come by (price and gallons sold in a market are well tracked), but avoiding confounding factors such as general decrease in economic activity, or post pandemic office policies driving commute changes, make the analysis not straightforward... Thus a bit suspect when used by anyone with a political point to make.
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