G2TT
来源类型Working papers
规范类型论文
Rational habits in residential electricity demand
Filippini, Massimo; Hirl, Bettina; Masiero, Giuliano
发表日期2015
出版者Institute of Economics, Università della Svizzera italiana
出版年2015
语种英语
摘要Dynamic partial adjustment models of residential electricity demand account for the fact that households may not adjust electricity consumption immediately in response to changes in prices, income, and other relevant factors, because of behavioral habits or adjustment costs for the capital stock of appliances. However, forward-looking behavior is generally neglected. Expectations about future prices or consumption may have an impact on current decisions. In this paper we propose rational habit models for residential electricity demand and apply them to a panel of 48 US states between 1995 and 2011. We estimate lead consumption models using fixed effects, instrumental variables, and the GMM Blundell-Bond estimator. We find that expectations about future consumption significantly influence current consumption decisions, which suggests that households behave rationally when making electricity consumption decisions. This novel approach may improve our understanding of the dynamics of residential electricity demand and the evaluation of the effects of energy policies.
主题Residential electricity ; Partial adjustment models ; Dynamic panel data models ; Rational habits
URLhttps://www.research-collection.ethz.ch/handle/20.500.11850/107183
来源智库Centre for Energy Policy and Economics (Switzerland)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/266587
推荐引用方式
GB/T 7714
Filippini, Massimo,Hirl, Bettina,Masiero, Giuliano. Rational habits in residential electricity demand. 2015.
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