Score contribution per author:
α: calibrated so average coauthorship-adjusted count equals average raw count
This paper uses the Atkinson-Halvorsen (1984) hedonic method to estimate the effect of petrol price changes on fuel efficiency and other attributes using data for new cars in the UK. In contrast to Atkinson and Halvorsen, the estimated long-run petrol price elasticity of demand for fuel efficiency is very small. The empirical results imply that the adjustment process within the new car market permits little substitution for more fuel efficient cars in response to petrol price changes.