Consumer myopia, imperfect competition and the energy efficiency gap: Evidence from the UK refrigerator market

Cohen, François; Glachant, Matthieu; Söderberg, Magnus

doi:10.1016/j.euroecorev.2017.01.004

Cited by 32 publications

(21 citation statements)

References 37 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…Similarly, Heutel (2017) finds no relation between present bias and the take-up of energy efficiency measures. Busse et al (2013), Allcott and Wozny (2014), and Cohen et al (2017)…”

Section: Present Biasmentioning

confidence: 99%

A large-scale test of the effects of time discounting, risk aversion, loss aversion, and present bias on household adoption of energy-efficient technologies

et al. 2019

View full text Add to dashboard Cite

Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. AbstractThis paper empirically and jointly analyses the relations between risk aversion, standard time discounting, present bias, and loss aversion and household stated adoption of low to high stake energy efficiency technologies (EETs) (light emitting diodes (LEDs), energy efficient appliances, and retrofit measures). The analysis relies on a large representative sample drawn from eight European Union countries. Preferences over time, risk and losses were elicited and jointly estimated from participant choices in incentivized, context-free multiple price list experiments. The findings from econometrically estimating EET adoption equations suggest that present-biased individuals are less likely to adopt EETs. They also provide (weak) evidence that individuals which are more risk-averse, or more loss-averse, or which exhibit a lower discount factor are less likely to adopt EETs. Finally, omitting one or several of the time and risk or loss-aversion parameters when estimating the EET adoption equations did not appear to cause omitted variable bias.

show abstract

“…Similarly, Heutel (2017) finds no relation between present bias and the take-up of energy efficiency measures. Busse et al (2013), Allcott and Wozny (2014), and Cohen et al (2017)…”

Section: Present Biasmentioning

confidence: 99%

A large-scale test of the effects of time discounting, risk aversion, loss aversion, and present bias on household adoption of energy-efficient technologies

et al. 2019

View full text Add to dashboard Cite

show abstract

“…Rational inattention may also have an impact on energy conservation. Cohen et al (2017) find that consumers underestimate future energy savings and therefore increase energy use. It should be noted that the use of limited attention when choosing among different durable goods could be the result of a rational choice.…”

Section: (Ir)rational Behaviormentioning

confidence: 99%

Internal and external barriers to energy efficiency: which role for policy interventions?

Cattaneo

2019

Energy Efficiency

108

View full text Add to dashboard Cite

This paper reviews the empirical literature that provides a correlation between the different barriers to energy efficiency and consumer behavior related to two domains. It evaluates behavior related to energy curtailment, which represents routine, repetitive effort to decrease consumption on a day-today basis. It also considers behavior related to investments, which are one time actions such as purchasing new energy efficiency technologies. The paper also reviews the existing literature that assesses the effect of policies on energy use and investment in energy efficiency technologies. By surveying the relevant research, this paper has two objectives. First, it discusses the impact of different barriers on energy efficiency, and second, it combines policy interventions with barriers related to both energy use and investment in energy efficiency technologies.

show abstract

“…Rational inattention may also have an impact on energy conservation. Cohen et al (2017) find that consumers underestimate future energy savings by 35%. Because of this underestimation they increase energy use.…”

Section: (Ir)rational Behaviourmentioning

confidence: 99%

Internal and External Barriers to Energy Efficiency: Made-to-Measure Policy Interventions

Cattaneo

2018

SSRN Journal

View full text Add to dashboard Cite

This paper has two objectives. First it provides a correlation between internal and external barriers to energy efficiency and consumer behaviour related to two domains. It evaluates behaviour related to energy curtailment, which represents routine, repetitive effort to decrease consumption on a day-today basis. It also considers behaviour related to investments, which are one time actions such as purchasing new energy efficiency technologies.. Second, it assesses the effectiveness of the different interventions and programs in addressing the two types of barriers (internal and external) with the aim of informing the policy debate. By assessing the value of a large number of interventions, this paper is one of the first that combines in a unified framework the main findings of different disciplines, from economics to psychology.

show abstract

Consumer myopia, imperfect competition and the energy efficiency gap: Evidence from the UK refrigerator market

Cited by 32 publications

References 37 publications

A large-scale test of the effects of time discounting, risk aversion, loss aversion, and present bias on household adoption of energy-efficient technologies

A large-scale test of the effects of time discounting, risk aversion, loss aversion, and present bias on household adoption of energy-efficient technologies

Internal and external barriers to energy efficiency: which role for policy interventions?

Internal and External Barriers to Energy Efficiency: Made-to-Measure Policy Interventions

Contact Info

Product

Resources

About