Behavioral Anomalies and Energy-related Individual Choices: The Role of Status-quo Bias
Behavioral Anomalies and Energy-related Individual Choices: The Role of Status-quo Bias
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DOI:
10.2139/ssrn.3289624
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发表时间:
2018-10
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影响因子:
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通讯作者:
J. Blasch;C. Daminato
中科院分区:
文献类型:
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作者:
J. Blasch;C. Daminato
The literature on the energy-efficiency gap discusses the status-quo bias as a behavioral anomaly that potentially increases a household’s energy consumption. We empirically investigate the extent to which the status-quo bias is linked to residential electricity consumption through two channels: non-replacement of old appliances and overuse of appliances. Using data from a large household survey conducted in three European countries, we find that our measure of status-quo bias is a significant predictor of both the age of home appliances and the level of a household’s consumption of energy services. This is also reflected in the total electricity consumption, which is found to be around 6% higher when the household head is status-quo biased. We thus provide empirical evidence that the status-quo bias may represent a substantial barrier to increasing residential energy efficiency. Our findings prompt policy makers to design instruments that take this barrier into account.