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Behavioral Public Economics : Welfare and Policy Analysis with Non-Standard Decision-Makers
Bernheim, B. Douglas - 2005
This paper has two goals. First, we discuss several emerging approaches to applied welfare analysis under non-standard ("behavioral") assumptions concerning consumer choice. This provides a foundation for Behavioral Public Economics. Second, we illustrate applications of these approaches by...
Persistent link: https://www.econbiz.de/10012467161
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How Consumers Respond to Environmental Certification and the Value of Energy Information
Houde, Sébastien - 2014
The ENERGY STAR certification is a voluntary labeling that favors the adoption of energy efficient products. In the US appliance market, the label is a coarse summary of otherwise readily accessible information. Using micro-data of the US refrigerator market, I develop a structural demand model...
Persistent link: https://www.econbiz.de/10012458645
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Nudging Energy Efficiency Behavior : The Role of Information Labels
Newell, Richard G. - 2013
We evaluate the effectiveness of energy efficiency labeling in guiding household decisions. Using a carefully designed choice experiment with alternative labels, we disentangle the relative importance of different types of information and intertemporal behavior (i.e., discounting) in guiding...
Persistent link: https://www.econbiz.de/10012459439
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Nonparametric Identification of Multinomial Choice Demand Models with Heterogeneous Consumers
Berry, Steven T. - 2009
We consider identification of nonparametric random utility models of multinomial choice using "micro data," i.e., observation of the characteristics and choices of individual consumers. Our model of preferences nests random coefficients discrete choice models widely used in practice with...
Persistent link: https://www.econbiz.de/10012463375
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Risk Preferences in Small and Large Stakes : Evidence from Insurance Contract Decisions
Collier, Benjamin L. - 2017
We examine risk preferences using the flood insurance decisions of over 100,000 households. In each contract, households make a small stakes decision, the deductible, and a large stakes one, the coverage limit. Over 94 percent of household choose one of the two lowest deductibles out of six...
Persistent link: https://www.econbiz.de/10012455103
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The Political Economy of Warfare
Glaeser, Edward L. - 2006
Warfare is enormously destructive, and yet countries regularly initiate armed conflict against one another. Even more surprisingly, wars are often quite popular with citizens who stand to gain little materially and may lose much more. This paper presents a model of warfare as the result of...
Persistent link: https://www.econbiz.de/10012465922
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Durable Goods and Conformity
House, Christopher L. - 2006
Is the variety of products supplied in markets a reflection of the diversity of consumers' preferences? In this paper, we argue that the distribution of durable goods offered in markets tends to be compressed relative to the distribution of consumers' underlying preferences. In particular, there...
Persistent link: https://www.econbiz.de/10012466641
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Energy Efficiency Standards Are More Regressive Than Energy Taxes : Theory and Evidence
Levinson, Arik - 2016
Economists promote energy taxes as cost-effective. But policymakers raise concerns about their regressivity, or disproportional burden on poorer families, preferring to set energy efficiency standards instead. I first show that in theory, regulations targeting energy efficiency are more...
Persistent link: https://www.econbiz.de/10012455724
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How Product Standardization Affects Choice : Evidence from the Massachusetts Health Insurance Exchange
Ericson, Keith M. Marzilli - 2013
Standardization of complex products is touted as improving consumer decisions and intensifying price competition, but … evidence on standardization is limited. We examine a natural experiment: the standardization of health insurance plans on the … Massachusetts Health Insurance Exchange. Pre-standardization, firms had wide latitude to design plans. A regulatory change then …
Persistent link: https://www.econbiz.de/10012459136
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Collusive Investments in Technological Compatibility : Lessons from U.S. Railroads in the Late 19th Century
Gross, Daniel P. - 2019
Collusion is widely condemned for its negative effects on consumer welfare and market efficiency. In this paper, I show that collusion may also in some cases facilitate the creation of unexpected new sources of value. I bring this possibility into focus through the lens of a historical episode...
Persistent link: https://www.econbiz.de/10012480205