Knowledge is ( Less ) Power : Experimental Evidence from Residential Energy Use 1

@inproceedings{Jessoe2013KnowledgeI,
  title={Knowledge is ( Less ) Power : Experimental Evidence from Residential Energy Use 1},
  author={Katrina K. Jessoe and David S. Rapson},
  year={2013}
}
Imperfect information about product attributes inhibits efficiency in many choice settings, but can be overcome by providing simple, low-cost information. We use a randomized control trial to test the effect of high-frequency information about residential electricity usage on the price elasticity of demand. Informed households are three standard deviations more responsive to temporary price increases, an effect that is not attributable to price salience. Conservation extends beyond pricing… CONTINUE READING

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