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The Lightbulb Paradox: Evidence from Two Randomized Experiments / Hunt Allcott, Dmitry Taubinsky.
- Format:
- Book
- Author/Creator:
- Allcott, Hunt.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w19713.
- NBER working paper series no. w19713
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- Lightbulb Paradox
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2013.
- Summary:
- Imperfect information and inattention to energy costs are important potential justifications for energy efficiency standards and subsidies. We evaluate these policies in the lightbulb market using a theoretical model and two randomized experiments. We derive welfare effects as functions of reduced-form sufficient statistics capturing economic and psychological parameters, which we estimate using a novel within-subject information disclosure experiment. In the context of the model, the main results suggest that moderate subsidies for energy efficient lightbulbs may increase welfare, but informational and attentional biases alone do not justify a ban on incandescent lightbulbs.
- Notes:
- Print version record
- December 2013.
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