Received microeconomic theory presumes rational consumers maximize utility over all commodity bundles. Recent analysis, however, suggests that a consumer's status quo may limit economic rationality; quot;biasquot; consumer decisions, and induce serious errors in survey-based valuations of public...

Energy analysts are often faced with the need to determine the value of electric service reliability in the absence of an explicit market for this service feature. One method for indirectly measuring consumers' valuation is called "contingent valuation" (CV). In service reliability applications,...