期刊
JOURNAL OF ECONOMIC BEHAVIOR & ORGANIZATION
卷 107, 期 -, 页码 209-227出版社
ELSEVIER SCIENCE BV
DOI: 10.1016/j.jebo.2014.04.012
关键词
Goal-setting; Reference dependence; Self-control; Energy conservation
类别
This paper develops a theoretical model of consumer demand for an energy conservation program that involves non-binding, self-set goals. We present evidence from a Northern Illinois goal-setting program, aimed at reducing residential electricity consumption, which is difficult to reconcile with standard preferences and is broadly consistent with a model of present-biased consumers with reference-dependent preferences. We find that the need for commitment is correlated with program adoption, higher pre-adoption consumption, and lower responsiveness to goals. Consumers choosing realistic goals persistently save substantially more, achieving savings of nearly 11%, than those choosing very low or unrealistically high goals. (C) 2014 Elsevier B.V. All rights reserved.
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