Table 3 Estimation results from OLS and...

Table 3

Estimation results from OLS and IV/2SLS regressions

	OLS	IV/2SLS
	OLS	First stage	Second stage
Dependent variables	$\ln Q_{i}$	$\ln P_{i}$	$\ln Q_{i}$
Natural log of price	$- {0.239}^{* * *}$ $(0.109)$		${- 1.152}^{* * *}$ $(0.053)$
Whom the respondent pays the electricity bill to (reference: directly to the electricity company)
- Owner of rented house		${0.560}^{* * *}$
		$(0.004)$
- Other household living together		$- 0.002$ $(0.010)$
Household registration status (reference: permanent)
- Temporary		$- {0.011}^{* * *}$ $(0.003)$
Natural log of income	${0.008}^{* * *}$ $(0.010)$	${0.007}^{* * *}$ $(0.001)$	${0.046}^{* * *}$ $(0.053)$
Natural log of price of substitutes	${0.044}^{* * *}$ $(0.007)$	$0003^{* * *}$ $(0.001)$	${0.043}^{* * *}$ $(0.007)$
House size	${0.001}^{* * *}$	${0.0002}^{* * *}$	${0.001}^{* * *}$
House size	$(0.000)$	$(0.000)$	$(0.000)$
Number of persons	${0.120}^{* * *}$	${0.011}^{* * *}$	${0.109}^{* * *}$
Number of persons	$(0.006)$	$(0.001)$	$(0.006)$
Area (reference: urban)
- Rural	$- 0.028$	$- 0.003$	$- {0.050}^{*}$
- Rural	$(0.021)$	$(0.003)$	$(0.022)$
Province (reference: Ha Noi)
- Da Nang	$- {0.293}^{* * *}$	$- {0.037}^{* * *}$	$- {0.399}^{* * *}$
- Da Nang	$(0.029)$	$(0.004)$	$(0.030)$
- Dak Nong	$- {0.308}^{* * *}$	$- {0.087}^{* * *}$	$- {0.556}^{* * *}$
- Dak Nong	$(0.034)$	$(0.004)$	$(0.036)$
- Binh Duong	$- {0.272}^{* * *}$	$- {0.007}^{*}$	$- {0.228}^{* * *}$
- Binh Duong	$(0.030)$	$(0.004)$	$(0.031)$
- Ho Chi Minh	$- {0.111}^{* * *}$	$0.002$	$- {0.107}^{* * *}$
- Ho Chi Minh	$(0.028)$	$(0.004)$	$(0.029)$
Ownership of appliances	Yes	Yes	Yes
Constant	${5.240}^{* * *}$ $(0.109)$	${0.533}^{* * *}$ $(0.014)$	${5.608}^{* * *}$ $(0.113)$
Observations	$4, 731$	$4, 731$	$4, 731$
F-statistics test			${7326.116}^{* * *}$
Wu–Hausman test			${3007.978}^{* * *}$
Sargan test			$2.479$

	OLS	IV/2SLS
	OLS	First stage	Second stage
Dependent variables	$\ln Q_{i}$	$\ln P_{i}$	$\ln Q_{i}$
Natural log of price	$- {0.239}^{* * *}$ $(0.109)$		${- 1.152}^{* * *}$ $(0.053)$
Whom the respondent pays the electricity bill to (reference: directly to the electricity company)
- Owner of rented house		${0.560}^{* * *}$
		$(0.004)$
- Other household living together		$- 0.002$ $(0.010)$
Household registration status (reference: permanent)
- Temporary		$- {0.011}^{* * *}$ $(0.003)$
Natural log of income	${0.008}^{* * *}$ $(0.010)$	${0.007}^{* * *}$ $(0.001)$	${0.046}^{* * *}$ $(0.053)$
Natural log of price of substitutes	${0.044}^{* * *}$ $(0.007)$	$0003^{* * *}$ $(0.001)$	${0.043}^{* * *}$ $(0.007)$
House size	${0.001}^{* * *}$	${0.0002}^{* * *}$	${0.001}^{* * *}$
House size	$(0.000)$	$(0.000)$	$(0.000)$
Number of persons	${0.120}^{* * *}$	${0.011}^{* * *}$	${0.109}^{* * *}$
Number of persons	$(0.006)$	$(0.001)$	$(0.006)$
Area (reference: urban)
- Rural	$- 0.028$	$- 0.003$	$- {0.050}^{*}$
- Rural	$(0.021)$	$(0.003)$	$(0.022)$
Province (reference: Ha Noi)
- Da Nang	$- {0.293}^{* * *}$	$- {0.037}^{* * *}$	$- {0.399}^{* * *}$
- Da Nang	$(0.029)$	$(0.004)$	$(0.030)$
- Dak Nong	$- {0.308}^{* * *}$	$- {0.087}^{* * *}$	$- {0.556}^{* * *}$
- Dak Nong	$(0.034)$	$(0.004)$	$(0.036)$
- Binh Duong	$- {0.272}^{* * *}$	$- {0.007}^{*}$	$- {0.228}^{* * *}$
- Binh Duong	$(0.030)$	$(0.004)$	$(0.031)$
- Ho Chi Minh	$- {0.111}^{* * *}$	$0.002$	$- {0.107}^{* * *}$
- Ho Chi Minh	$(0.028)$	$(0.004)$	$(0.029)$
Ownership of appliances	Yes	Yes	Yes
Constant	${5.240}^{* * *}$ $(0.109)$	${0.533}^{* * *}$ $(0.014)$	${5.608}^{* * *}$ $(0.113)$
Observations	$4, 731$	$4, 731$	$4, 731$
F-statistics test			${7326.116}^{* * *}$
Wu–Hausman test			${3007.978}^{* * *}$
Sargan test			$2.479$

Note(s): $\ln Q_{i}$ and $\ln P_{i}$ denote the natural logarithm of quantity and the natural logarithm of price, respectively. The ownership of appliances indicates whether a household has specific appliances, including air conditioners, washing machines and dryers, vacuum cleaners, dehumidifiers, water purifiers, water heaters, gas cookers, induction cookers, electric cookers, rice cookers, pressure cookers, microwave ovens, baking ovens and fruit juicing/pressing machines. *, ** and *** denote statistical significance at the 10%, 5% and 1% levels, respectively

Source(s): Authors' calculations

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