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dc.contributor.author
Blasch, Julia
dc.contributor.author
Filippini, Massimo
dc.contributor.author
Kumar, Nilkanth
dc.date.accessioned
2019-05-28T10:31:15Z
dc.date.available
2017-06-12T06:40:34Z
dc.date.available
2017-11-24T13:48:51Z
dc.date.available
2019-05-28T10:31:15Z
dc.date.issued
2016-06
dc.identifier.uri
http://hdl.handle.net/20.500.11850/116879
dc.identifier.doi
10.3929/ethz-a-010656875
dc.description.abstract
It is an ongoing debate how to increase the adoption of energy-efficient light bulbs and household appliances in the presence of the so-called ’energy efficiency gap’. One measure to support consumers’ decision-making towards the purchase of more efficient appliances is the display of energy-related information in the form of energy-efficiency labels on electric consumer products. Another measure is to educate the consumers in order to increase their level of energy and investment literacy. Thus, two questions arise when it comes to the display of energy-related information on appliances: (1) What kind of information should be displayed to enable consumers to make rational and efficient choices? (2) What abilities and prior knowledge do consumers need to have to be able to process this information? In this paper, using a series of recursive bivariate probit models and three samples of 583, 877 and 1,375 Swiss households from three major Swiss urban areas, we show how displaying information on the future energy consumption of electrical appliances in monetary terms, i.e. as an estimate of yearly energy cost (CHF) rather than in physical units (kWh), increases the probability that an individual performs an investment analysis and hence chooses the most (cost-)efficient appliance. In addition, our econometric results suggest that individuals with a higher level of energy and, in particular, investment literacy are more likely to perform an optimization rather than relying on a decision-making heuristic and are more likely to identify the most (cost-)efficient appliance.
en_US
dc.format
application/pdf
en_US
dc.language.iso
en
en_US
dc.publisher
ETH Zurich, Center of Economic Research (CER-ETH)
en_US
dc.rights.uri
http://rightsstatements.org/page/InC-NC/1.0/
dc.subject
Energy-efficiency
en_US
dc.subject
Bounded rationality
en_US
dc.subject
Energy-using durables
en_US
dc.subject
Information
en_US
dc.subject
Energy label
en_US
dc.subject
Energy literacy
en_US
dc.subject
Choice experiment
en_US
dc.title
Boundedly rational consumers, energy and investment literacy, and the display of information on household appliances
en_US
dc.type
Working Paper
dc.rights.license
In Copyright - Non-Commercial Use Permitted
dc.date.published
2016
ethz.journal.title
Economics Working Paper Series
ethz.journal.volume
16/249
en_US
ethz.size
43 p.
en_US
ethz.code.ddc
DDC - DDC::3 - Social sciences::330 - Economics
en_US
ethz.code.jel
JEL - JEL::D - Microeconomics::D1 - Household Behavior and Family Economics::D12 - Consumer Economics: Empirical Analysis
en_US
ethz.code.jel
JEL - JEL::D - Microeconomics::D8 - Information, Knowledge, and Uncertainty::D80 - General
en_US
ethz.code.jel
JEL - JEL::Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics::Q4 - Energy::Q41 - Demand and Supply; Prices
en_US
ethz.code.jel
JEL - JEL::Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics::Q4 - Energy::Q48 - Government Policy
en_US
ethz.publication.place
Zurich
en_US
ethz.publication.status
published
en_US
ethz.leitzahl
ETH Zürich::00002 - ETH Zürich::00012 - Lehre und Forschung::00007 - Departemente::02120 - Dep. Management, Technologie und Ökon. / Dep. of Management, Technology, and Ec.
en_US
ethz.leitzahl
ETH Zürich::00002 - ETH Zürich::00012 - Lehre und Forschung::00007 - Departemente::02120 - Dep. Management, Technologie und Ökon. / Dep. of Management, Technology, and Ec.::03539 - Filippini, Massimo / Filippini, Massimo
en_US
ethz.leitzahl.certified
ETH Zürich::00002 - ETH Zürich::00012 - Lehre und Forschung::00007 - Departemente::02120 - Dep. Management, Technologie und Ökon. / Dep. of Management, Technology, and Ec.::03539 - Filippini, Massimo / Filippini, Massimo
ethz.relation.isPreviousVersionOf
10.3929/ethz-b-000172790
ethz.date.deposited
2017-06-12T06:43:36Z
ethz.source
ECOL
ethz.source
ECIT
ethz.identifier.importid
imp59366b9105bb830001
ethz.identifier.importid
imp5936546e384c887674
ethz.ecolpid
eth:49133
ethz.ecitpid
pub:178768
ethz.eth
yes
en_US
ethz.availability
Open access
en_US
ethz.rosetta.installDate
2017-07-26T14:48:23Z
ethz.rosetta.lastUpdated
2019-05-28T10:31:40Z
ethz.rosetta.exportRequired
false
ethz.rosetta.versionExported
true
ethz.COinS
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