Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/312220 
Year of Publication: 
2023
Citation: 
[Journal:] Environmental and Resource Economics [ISSN:] 1573-1502 [Volume:] 86 [Issue:] 4 [Publisher:] Springer Netherlands [Place:] Dordrecht [Year:] 2023 [Pages:] 893-945
Publisher: 
Springer Netherlands, Dordrecht
Abstract: 
This paper explores the willingness-to-pay for energy efficiency by exploiting variation across products and countries within the EU market for household appliances. Based on scanner data at product-level, I use the hedonic method to estimate implicit prices for energy efficiency and derive implicit discount rates. The paper argues that the implicit price will be underestimated when energy consumption is not only a determinant of operating cost but also is positively associated with other features of a product. The empirical analysis confirms that estimates of the willingness-to-pay are higher when this effect is accounted for in the estimation. This is especially true of product types for which the heterogeneity of usage intensity is low. The results thus indicate that the energy efficiency gap is smaller than found in earlier studies.
Subjects: 
Energy efficiency
Hedonic prices
Implicit discount rate
Energy efficiency gap
Household appliances
White goods
JEL: 
Q41
H23
D12
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article
Document Version: 
Published Version

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