Data and Code for: Formative Experiences and the Price of Gasoline

Principal Investigator(s): View help for Principal Investigator(s) Christopher Severen, Federal Reserve Bank of Philadelphia; Arthur van Benthem, University of Pennsylvania. The Wharton School

Version: View help for Version V1

Name	File Type	Size	Last Modified
codelog			02/08/2021 01:22:PM
data			02/08/2021 01:20:PM
output			02/08/2021 01:36:PM
results			02/08/2021 01:20:PM
README.pdf	application/pdf	252.5 KB	02/08/2021 08:19:AM

Project Citation:

Severen, Christopher, and van Benthem, Arthur. Data and Code for: Formative Experiences and the Price of Gasoline. Nashville, TN: American Economic Association [publisher], 2022. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2022-03-21. https://doi.org/10.3886/E127261V1

Project Description

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.

Scope of Project

Subject Terms: formative experiences; preference persistence; path dependence; driving behavior; gasoline price

JEL Classification:
      D12 Consumer Economics: Empirical Analysis
      D90 Micro-Based Behavioral Economics: General
      L91 Transportation: General
      Q41 Energy: Demand and Supply; Prices
      R41 Transportation: Demand, Supply, and Congestion; Travel Time; Safety and Accidents; Transportation Noise

Geographic Coverage: United States

Time Period(s): 1966 – 2017 (Outcome data are recorded from 1980 to 2017; Gas price data are from 1966 to 2017)

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Published Versions

V1 [2022-03-21]

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DDI 2.5

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