Prices versus nudges: What matters for search versus purchase of energy investments?

• 成果类型: Article
• 署名作者: Holladay, Scott; LaRiviere, Jacob; Novgorodsky, David; Price, Michael
• 署名单位: University of Tennessee System; University of Tennessee Knoxville; University of Tennessee System; University of Tennessee Knoxville; Microsoft; University of Chicago; University of Alabama System; University of Alabama Tuscaloosa; National Bureau of Economic Research
• 刊物名称: JOURNAL OF PUBLIC ECONOMICS
• ISSN/ISSBN: 0047-2727
• DOI: 10.1016/j.jpubeco.2018.12.004
• 发表日期: 2019
• 页码: 151-173
• 关键词: information; Social comparison; public goods; durable goods

摘要

We report the results of a field experiment where we exogenously vary the use of social comparison nudges and subsidies for participation in an in-home energy audit program. We follow subjects through to subsequent purchase of durable goods. We therefore can compare the causal effect of financial incentives and nudges along two margins: audits, which we liken to search, and purchase of durables. Using data on nearly 100,000 households we document that both prices and nudges cause a statistically significant increase in audits. Comparing point estimates, effective nudges are worth roughly $50-$70. However, we find that neither nudges nor subsidies do not significantly impact installations. (C) 2019 Elsevier B.V. All rights reserved.