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Minimum Energy Efficiency Standards for Appliances: Old and New Economic Rationales

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  • Sébastien Houde and C. Anna Spurlock

Abstract

We revisit Hausman and Joskow (1982)'s economic rationales for appliance minimum energy efficiency standards. In addition to the four market failures they argued could justify appliance standards - energy prices below marginal social cost, consumers underestimating energy prices, consumer discount rates above social discount rates, and principal-agent problems - we discuss two additional market failures that are relevant and potentially economically important in this context: market power and innovation market failures. We highlight puzzles uncovered by recent empirical results, and suggest directions future research should take to better understand the normative implications of appliance standards.

Suggested Citation

  • Sébastien Houde and C. Anna Spurlock, 2016. "Minimum Energy Efficiency Standards for Appliances: Old and New Economic Rationales," Economics of Energy & Environmental Policy, International Association for Energy Economics, vol. 0(Number 2).
    • Handle: RePEc:aen:eeepjl:eeep5-2-houde
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    Citations

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    Cited by:

    1. Mark A. Andor & David H. Bernstein & Stephan Sommer, 2021. "Determining the efficiency of residential electricity consumption," Empirical Economics, Springer, vol. 60(6), pages 2897-2923, June.
    2. Anne Kesselring, 2023. "Willingness-to-Pay for Energy Efficiency: Evidence from the European Common Market," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 86(4), pages 893-945, December.
    3. Spurlock, C. Anna & Fujita, K. Sydny, 2022. "Equity implications of market structure and appliance energy efficiency regulation," Energy Policy, Elsevier, vol. 165(C).
    4. Gerke, Brian F. & McNeil, Michael A. & Tu, Thomas, 2017. "The International Database of Efficient Appliances (IDEA): A new tool to support appliance energy-efficiency deployment," Applied Energy, Elsevier, vol. 205(C), pages 453-464.
    5. Stefan M. Buettner, 2022. "Roadmap to Neutrality—What Foundational Questions Need Answering to Determine One’s Ideal Decarbonisation Strategy," Energies, MDPI, vol. 15(9), pages 1-24, April.
    6. Dou, Xiaoya & Linn, Joshua, 2020. "How do US passenger vehicle fuel economy standards affect new vehicle purchases?," Journal of Environmental Economics and Management, Elsevier, vol. 102(C).

    More about this item

    JEL classification:

    • F0 - International Economics - - General

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