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Formative Experiences and the Price of Gasoline / Christopher Severen, Arthur van Benthem.
- Format:
- Book
- Author/Creator:
- Severen, Christopher.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w26091.
- NBER working paper series no. w26091
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2019.
- Summary:
- Formative experiences shape behavior for decades. We document a striking feature about those who came of driving age during the oil crises of the 1970s: they drive less in the year 2000. The effect is not specific to these cohorts; price variation over time and across states indicates that gasoline price changes between ages 15-18 generally shift later-life travel behavior. Effects are not explained by recessions, income, or costly skill acquisition and are inconsistent with recency bias, mental plasticity and standard habit-formation models. Instead, they likely reflect formation of preferences for driving or persistent changes in its perceived cost.
- Notes:
- Print version record
- July 2019.
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