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dc.contributor.author
Blasch, Julia
dc.contributor.author
Filippini, Massimo
dc.contributor.author
Kumar, Nilkanth
dc.date.accessioned
2018-12-20T16:17:15Z
dc.date.available
2017-07-25T12:57:25Z
dc.date.available
2017-07-25T13:24:04Z
dc.date.available
2017-10-27T11:05:52Z
dc.date.available
2018-08-31T15:09:49Z
dc.date.available
2018-10-31T16:18:08Z
dc.date.available
2018-12-20T16:17:15Z
dc.date.issued
2019
dc.identifier.issn
0928-7655
dc.identifier.issn
1873-0221
dc.identifier.other
10.1016/j.reseneeco.2017.06.001
en_US
dc.identifier.uri
http://hdl.handle.net/20.500.11850/172790
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 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 possess 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 1375 households from three major Swiss urban areas, we show how displaying information on the future energy consumption of electrical appliances in monetary terms (CHF), rather than in physical units (kWh), increases the probability that an individual makes a calculation and identifies the appliance with the lowest lifetime cost. 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. These individuals are also more likely to identify the most (cost-)efficient appliance.
en_US
dc.language.iso
en
en_US
dc.publisher
Elsevier
en_US
dc.subject
Energy-efficiency
en_US
dc.subject
Bounded rationality
en_US
dc.subject
Energy-using durables
en_US
dc.subject
Energy label
en_US
dc.subject
Energy literacy
en_US
dc.subject
Online randomized controlled trial
en_US
dc.title
Boundedly rational consumers, energy and investment literacy, and the display of information on household appliances
en_US
dc.type
Journal Article
dc.date.published
2017-06-13
ethz.journal.title
Resource and Energy Economics
ethz.journal.abbreviated
Resour. energy econ.
ethz.size
20 p.
en_US
ethz.code.ddc
3 - Social sciences::333.7 - Natural resources, energy and environment
en_US
ethz.code.ddc
3 - Social sciences::330 - Economics
en_US
ethz.code.jel
D8 - Information, Knowledge, and Uncertainty::D80 - General
en_US
ethz.code.jel
D1 - Household Behavior and Family Economics::D12 - Consumer Economics: Empirical Analysis
en_US
ethz.code.jel
Q4 - Energy::Q41 - Demand and Supply; Prices
en_US
ethz.code.jel
Q4 - Energy::Q48 - Government Policy
en_US
ethz.publication.place
Amsterdam
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.::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
en_US
ethz.tag
Bounded rationality
en_US
ethz.tag
Energy label
en_US
ethz.tag
Energy literacy
en_US
ethz.date.deposited
2017-07-25T12:57:26Z
ethz.source
FORM
ethz.eth
yes
en_US
ethz.availability
Metadata only
en_US
ethz.rosetta.exportRequired
true
ethz.COinS
ctx_ver=Z39.88-2004&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.atitle=Boundedly%20rational%20consumers,%20energy%20and%20investment%20literacy,%20and%20the%20display%20of%20information%20on%20household%20appliances&rft.jtitle=Resource%20and%20Energy%20Economics&rft.date=2019&rft.issn=0928-7655&1873-0221&rft.au=Blasch,%20Julia&Filippini,%20Massimo&Kumar,%20Nilkanth&rft.genre=article&
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