Modeling residential water demand using household data: a cubic approach
Mylopoulos, Y.A.; Mentes, A.K.; Theodossiou, I.
Water International 29(1): 105-113
ISSN/ISBN: 0250-8060 DOI: 10.1080/02508060408691753
A cubic functional form of an econometric model for residential water demand estimation was used to accommodate different price elasticities for different levels of water demand. Precise estimates of these different price elasticities offer a useful tool to water authorities for urban water demand management through price-based policies. Panel estimation methods (fixed and random effects) were employed to estimate model parameters.