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  • D80  (2)
  • 2015-2019  (2)
  • 2017  (2)
  • 1
    Publication Date: 2017-11-29
    Description: This paper estimates the level of transient and persistent efficiency in the use of electricity in Swiss households using the generalized true random effects model (GTREM). A panel dataset of 1, 994 Swiss households from 2010 to 2014 collected via a household survey is used to estimate an electricity demand frontier function. We further investigate whether energy and investment literacy have an influence on the household electricity consumption. The results show significant inefficiencies in the use of electricity among Swiss households, both transient (11%) and persistent (22%). We note that the high persistent inefficiency is indicative of structural problems faced by households and systematic behavioral shortcomings in residential electricity consumption. These results indicate a considerable potential for electricity savings and thus reaching the reduction targets defined by the Swiss federal council as part of the Energy Strategy 2050, wherein end-use efficiency improvement is one of the main pillars. The results support a positive role of energy and, in particular, investment literacy in reducing household electricity consumption. Policies targeting an improvement of these attributes could help to improve efficiency in the use of energy within households.
    Keywords: D12 ; D13 ; D80 ; Q41 ; Q48 ; ddc:330 ; Stochastic frontier analysis ; Transient and persistent efficiency ; Energy literacy ; Investment literacy ; Energy saving behaviour ; Residential electricity demand ; Household data
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
    Type: doc-type:workingPaper
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  • 2
    Publication Date: 2017-11-29
    Description: There is evidence that many individuals make sub-optimal investment decisions when the benefits and costs associated with that decision are distributed over time. One example is the decision to adopt new electrical appliances, with the benefits of choosing a more energy efficient device materializing only in the future. This paper analyses the impact of the level of an individual’s energy-related investment literacy on the adoption of energy-efficient appliances. Moreover, the empirical analysis explores the impact of decision support tools such as educational slides on the probability that individuals identify the appliance with the lowest lifetime cost, which is ideally also the most energy-efficient appliance. To test the influence of these decision support tools, we developed an online randomized controlled trial and implemented it on two independently chosen samples of the Swiss population. One treatment offers a short education program on how to calculate the lifetime cost of an appliance – via a set of information slides. The second intervention provides access to an online calculator that supports the investment decision-making of the individual. Results across the two samples are encouraging. We find that i) pre-treatment energy and investment literacy positively impact on the probability of identifying the appliance with the lowest lifetime cost; ii) the reinforcement of energy-related investment literacy increases the rate at which individuals identify the appliance with the lowest lifetime cost; and iii) while both interventions are effective in increasing the chances that an appliance with the lower lifetime cost is chosen, the online calculator turned out to be more effective than the educational program. Public policy implications are discussed.
    Keywords: D12 ; D80 ; Q41 ; Q48 ; ddc:330 ; energy-efficient appliances ; energy-related investment literacy ; appliance choice ; bounded rationality ; educational programs ; online tool
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
    Type: doc-type:workingPaper
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
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