transportation. What accounts for California's apparent energy savings? Some credit the strict energy efficiency standards for … buildings and appliances enacted by California in the mid-1970s. They argue that other states and countries could replicate … California's gains, and that California should build on its own success by tightening those standards further. Skeptics might …

with two types of market failures: first, uninternalized externalities from energy consumption, and second, forces such as … model clarifies that only if the second type of market failure cannot be addressed directly through mechanisms such as … information provision, energy efficiency subsidies and standards may be merited. We therefore review the empirical work on the …