Demand Specification for Municipal Water Management: Evaluation of the Stone-Geary Form
研究在市政水资源分配问题中，如何在需求设定的灵活性与简洁性之间权衡。利用德克萨斯州五年的面板数据，发现简洁的Stone-Geary形式能得出与灵活形式相当的需求函数，并可用于分析价格结构和设计节水政策。
<i>To specify demand in most water allocation problems, researchers face a tradeoff between flexibility and parsimony. Flexible forms are less constraining on elasticity estimates, but require large parameter sets that tend to cause poor out-of-sample forecasts and computational difficulties. Using a five-year panel of Texas municipalities, the parsimonious Stone-Geary form yields estimated demand functions that are comparable to flexible form results. The Stone-Geary specification also provides an estimate of the portion of water use that may not be responsive to price, and is useful in analysing price structures and designing conservation policies.</i>