Energy Demand Model II
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In this chapter the third group of the econometric model is estimated, namely the energy demand model accounting for risk. The model is constructed as in the previous models in two forms: The Cobb-Douglas and the Translog function to allow for consistency and comparability. The Just and Pop production risk function is applied. To estimate the energy demand incorporating risk, different input factors of production are included.
KeywordsEnergy Demand Model Translog FGLS Estimator Elastic Mean Yield Component Variables
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