¶ … Economists Have to Say About Gasoline Price Elasticity
In contemporary society, the price of gasoline often appears to change in a fickle manner and most often seems unrelated to any real world global events as might be expected. Charging higher taxes for gasoline is considered a dubious strategy by many people since not everyone affected by the tax increase can elect to stop buying gasoline or buy less fuel for their cars in response to the tax change. Moreover, it is not feasible for everyone who currently drives to work to move closer to their place of employment, schedule carpooling, or arrange to telecommute. For a fairly substantial demographic, gasoline cannot be considered a normal good, as demand for it will not increase if income increases -- unless the increased incomes is truly substantive -- as they quite simply need and purchase fuel in order to get to work and continue employment (Rittenberg, 2009). Some moderate changes can be made by most people to reduce their consumption of gasoline. Regardless, popular opinion holds that the gas taxation is not intended to change consumer behavior, but is instead a device for adding to governmental coffers.
Moffatt (2015) takes these popular arguments into consideration and discusses the price elasticity of the demand for gasoline and summarizes a number of studies to...
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