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Technology adoption subsidies: An experiment with managers

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Author Info
Aalbers, Rob
van der Heijden, Eline
Potters, Jan
van Soest, Daan
Vollebergh, Herman

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Abstract

We evaluate the impact of technology adoption subsidies on investment behavior in an individual choice experiment. In a laboratory setting professional managers are confronted with an intertemporal decision problem in which they have to decide whether or not to search for, and possibly adopt, a new technology. Technologies differ in the per-period benefits they yield, and their purchase price increases with the per-period benefits provided. We introduce a subsidy on the more expensive technologies (that also yield larger per-period benefits), and find that the subsidy scheme induces agents to search for and adopt these more expensive technologies even though the subsidy itself is too small to render these technologies profitable. We speculate that the result is driven by the positive connotation (affect) that the concept [`]subsidy' invokes.

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Publisher Info
Article provided by Elsevier in its journal Energy Economics.

Volume (Year): 31 (2009)
Issue (Month): 3 (May)
Pages: 431-442
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Handle: RePEc:eee:eneeco:v:31:y:2009:i:3:p:431-442

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Related research
Keywords: Framed field experiment Search model Technology subsidies;

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  1. Sonnemans, Joep, 1998. "Strategies of search," Journal of Economic Behavior & Organization, Elsevier, vol. 35(3), pages 309-332, April. [Downloadable!] (restricted)
  2. David Revelt & Kenneth Train, 1998. "Mixed Logit With Repeated Choices: Households' Choices Of Appliance Efficiency Level," The Review of Economics and Statistics, MIT Press, vol. 80(4), pages 647-657, November. [Downloadable!] (restricted)
  3. Daniel Kahneman, 2003. "Maps of Bounded Rationality: Psychology for Behavioral Economics," American Economic Review, American Economic Association, vol. 93(5), pages 1449-1475, December. [Downloadable!]
  4. Glenn W. Harrison & John A. List, 2004. "Field Experiments," Journal of Economic Literature, American Economic Association, vol. 42(4), pages 1009-1055, December. [Downloadable!] (restricted)
  5. Walsh, Michael J., 1989. "Energy tax credits and housing improvement," Energy Economics, Elsevier, vol. 11(4), pages 275-284, October. [Downloadable!] (restricted)
  6. Rami Zwick & Ching Chyi Lee, 1999. "Bargaining and Search: An Experimental Study," Experimental 9902003, EconWPA. [Downloadable!]
  7. Schotter, Andrew & Braunstein, Yale M, 1981. "Economic Search: An Experimental Study," Economic Inquiry, Oxford University Press, vol. 19(1), pages 1-25, January.
  8. Joskow, P.L. & Marron, D.B., 1991. "What does a Negawatt Really Cost?," Working papers 596, Massachusetts Institute of Technology (MIT), Department of Economics.
  9. Stephen J. Decanio & William E. Watkins, 1998. "Investment In Energy Efficiency: Do The Characteristics Of Firms Matter?," The Review of Economics and Statistics, MIT Press, vol. 80(1), pages 95-107, February. [Downloadable!] (restricted)
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  10. Sonnemans, Joep, 2000. "Decisions and strategies in a sequential search experiment," Journal of Economic Psychology, Elsevier, vol. 21(1), pages 91-102, February. [Downloadable!] (restricted)
  11. Cox, James C & Oaxaca, Ronald L, 1989. " Laboratory Experiments with a Finite-Horizon Job-Search Model," Journal of Risk and Uncertainty, Springer, vol. 2(3), pages 301-29, September.
  12. Hassett, Kevin A. & Metcalf, Gilbert E., 1995. "Energy tax credits and residential conservation investment: Evidence from panel data," Journal of Public Economics, Elsevier, vol. 57(2), pages 201-217, June. [Downloadable!] (restricted)
  13. Eric Malm, 1996. "An Actions-Based Estimate of the Free Rider Fraction in Electric Utility DSM Programs," The Energy Journal, International Association for Energy Economics, vol. 17(3), pages 41-48.
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