We are given a lot of tools, but no warning label on how or when to employ them. Michael Doane (Competition Economics, LLC), Luke Froeb & Steven Tschantz (Vanderbilt University)

Energy policy analysts (Hausman [1979], Hartman [1984], Houston [1983], Hutton [1980], and Olsen [1984]) increasingly rely on some notion of life-cycle costing for predicting how consumers will choose among alternative energy-using durable-good investments. These techniques have been important...