Journal
WATER RESOURCES RESEARCH
Volume 40, Issue 11, Pages -Publisher
AMER GEOPHYSICAL UNION
DOI: 10.1029/2004WR003092
Keywords
demand estimation; dynamic panel data; residential water demand; water pricing
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[ 1] In this paper, we formulate and estimate a model of residential water demand with the aim of evaluating the potential of pricing policies as a mechanism for managing residential water. The proposed econometric model offers a new perspective on urban water demand analysis by combining microlevel data with a dynamic panel data estimation procedure. The empirical application suggests that residential users are more responsive to a lagged average price specification. Another result of the estimated model is that price is a moderately effective tool in reducing residential water demand within the present range of prices, with the estimated values for income elasticity and elasticity of consumption with respect to family size'' reinforcing this conclusion.
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