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Model for Investigating Substitution Effect between Renewable Resources and Non-Renewable Resources
Proceedings of the 2017 3rd International Conference on Social Science and Higher Education
This paper is mainly about investigating the substitution effect between renewable resources and nonrenewable resources. Firstly, the paper will give a review about previous empirical analysis about the relationship between the two resources. Then, the substitution effect will be analyzed by building a model which is based on reducing form of demand and supply function for gasoline market. This model can be combined with time series data in different countries and appropriate time series testdoi:10.2991/icsshe-17.2017.14 fatcat:7x7vjzw6pbhihfqkiahx3ri7z4