Gas prices and internet searches

From Bill Tancer’s blog at hitwise.com, some interesting patterns regarding internet searches and the price of gasoline.

When gas prices go up, Tancer sees a sharp spike in searches for hybrid vehicles and a less pronounced decrease in SUV searches.

(And if you are obsessed with American Idol rather than the price of gas, here is another post by Bill Tancer you will enjoy more.)

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  1. tyco says:

    Is amazing people are complaining about gas prices, when I see them shopping like crazy each week at the mall, eating at restaurants, driving suv’s and golfing. Women love those expensive shoes and those guess jeans that cost an average of $70 a pair. Seriously, I think America is very rich and has a lot to spend, so stop whynning and save more. Let this people live one month in Uganda, Africa to see if they come back and still complain of their life. Remember, all this people complain because they spend like crazy on their credit cards and then they can’t pay. Talk about being dumb.

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  2. tyco says:

    Is amazing people are complaining about gas prices, when I see them shopping like crazy each week at the mall, eating at restaurants, driving suv’s and golfing. Women love those expensive shoes and those guess jeans that cost an average of $70 a pair. Seriously, I think America is very rich and has a lot to spend, so stop whynning and save more. Let this people live one month in Uganda, Africa to see if they come back and still complain of their life. Remember, all this people complain because they spend like crazy on their credit cards and then they can’t pay. Talk about being dumb.

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  3. zbicyclist says:

    Just for grins, I looked up some references to gas price elasticity. These are at http://journals.aol.com/mikekr/ZbicyclistsZlog/entries/763

    Basically, short term elasticity is about -.2, which means if gas goes from $3 to $6 (+100%), consumption will go down about 20%. Of course, this number has a lot of uncertainty about it, since the “ceteris paribus” assumption obviously wouldn’t hold for a change this large.

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  4. zbicyclist says:

    Just for grins, I looked up some references to gas price elasticity. These are at http://journals.aol.com/mikekr/ZbicyclistsZlog/entries/763

    Basically, short term elasticity is about -.2, which means if gas goes from $3 to $6 (+100%), consumption will go down about 20%. Of course, this number has a lot of uncertainty about it, since the “ceteris paribus” assumption obviously wouldn’t hold for a change this large.

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