Casting light on energy efficiency: evidence on consumer inattention and imperfect information
We investigate consumer inattention and imperfect information regarding the financial benefits of energy-efficient lighting using a randomized controlled trial with 1084 observations. Results suggest that subjects generally know about cost savings of light-emitting diode (LED) bulbs - the central li...
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| Main Authors: | , , |
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| Format: | Article (Journal) |
| Language: | English |
| Published: |
24 May 2017
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| In: |
Applied economics letters
Year: 2017, Volume: 24, Pages: 1-13 |
| ISSN: | 1466-4291 |
| DOI: | 10.1080/13504851.2017.1332742 |
| Online Access: | Verlag, Volltext: http://dx.doi.org/10.1080/13504851.2017.1332742
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| Author Notes: | Matthias Rodemeier, Andreas Löschel, Roland Kube |
| Summary: | We investigate consumer inattention and imperfect information regarding the financial benefits of energy-efficient lighting using a randomized controlled trial with 1084 observations. Results suggest that subjects generally know about cost savings of light-emitting diode (LED) bulbs - the central lighting technology of the future - but largely underestimate the magnitude of these savings. As a result, stated willingness-to-pay for an LED bulb increases on average by 2.53€ through the provision of information on expected lifetime costs. Additional evidence hints at further consumer confusion about attribute differences between lighting technologies. |
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| Item Description: | Gesehen am 17.07.2017 |
| Physical Description: | Online Resource |
| ISSN: | 1466-4291 |
| DOI: | 10.1080/13504851.2017.1332742 |