| Additional title: |
Consumer valuation of energy-saving features of residential air conditioners |
| Date: |
2015 |
| Description: |
19 p. |
| Abstract: |
The promotion of energy-efficient appliances is necessary to reduce the energetic and environmental burden of the household sector. However, many studies have reported that a typical consumer underestimates the benefits of energy-saving investment on the purchase of household electric appliances. To analyze this energy-efficiency gap problem, many scholars have estimated implicit discount rates that consumers use for energy-consuming durables. Although both hedonic and choice models have been used in previous studies, a comparison between two models has not yet been done. This study uses point of sale data about Japanese residential air conditioners and estimates implicit discounts rates with both hedonic and choice models. Both models demonstrate that a typical consumer underinvests in energy efficiency. Although choice models estimate a lower implicit discount rate than hedonic models, the latter models estimate the values of other product characteristics more consistently than choice models. |
| Rights: |
L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons:  |
| Language: |
Anglès |
| Series: |
Institut de Ciència i Tecnologia Ambientals. Working Papers on Environmental Sciences |
| Series: |
Working Papers on Environmental Sciences ; |
| Document: |
Working paper |
| Subject: |
Aire condicionat ;
Aparells i accessoris ;
Energia elèctrica ;
Estalvi ;
Economia energètica ;
Consum d'energia ;
Japó |
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