Modeling the Formation of Expectations: The History of Energy Demand Forecasts (Classic Reprint) - Hardcover

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Excerpt from Modeling the Formation of Expectations: The History of Energy Demand Forecasts

The model described here tests the ability of adaptive expectations and trend extrapolation to explain the history of energy demand forecasts. Energy demand is forecast by an exponential extrapolation of the expected growth rate of energy consumption. The expected rate of consumption growth is determined by the past rate of growth of actual energy consumption.

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