Studies have shown that many consumers and businesses fail to invest in energy efficiency improvements despite seemingly ample financial incentives to do so - the so called energy & efficiency gap or paradox. Attempts to explain this gap often focus on searching costs, information frictions and...

Demand response (or demand-side response) involves temporary changes in electricity consumption, typically in response to price signals or other financial incentives, or in reaction to grid conditions, is expected to cost-effectively contribute to the much needed power system flexibility, and...