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Appliance Standards and the Welfare of Poor Families

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  • Steven Stoft

Abstract

Sutherland recently described U.S. federal appliance standards as causing a welfare loss that falls "particularly heavily on poor families." He attributed this loss to their risk aversion and to their being forced to invest at a discount rate of 7%. This note estimates the loss caused by this risk aversion at less than eight cents per year in the case of the 1993 refrigerator standard, and documents that standards have not been designed with the intention of forcing consumers to invest at a 7% discount rate.

Suggested Citation

  • Steven Stoft, 1993. "Appliance Standards and the Welfare of Poor Families," The Energy Journal, International Association for Energy Economics, vol. 0(Number 4), pages 123-128.
  • Handle: RePEc:aen:journl:1993v14-04-a08
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    References listed on IDEAS

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    Cited by:

    1. Jonathan G. Koomey & Alan H. Sanstad & Leslie J. Shown, 1996. "Energy-Efficient Lighting: Market Data, Market Imperfections, And Policy Success," Contemporary Economic Policy, Western Economic Association International, vol. 14(3), pages 98-111, July.
    2. Bhattacharya, Soma & Cropper, Maureen L., 2010. "Options for Energy Efficiency in India and Barriers to Their Adoption: A Scoping Study," Discussion Papers dp-10-20, Resources For the Future.
    3. Ian W.H. Parry & Hilary Sigman & Margaret Walls & Roberton C. Williams III, 2005. "The Incidence of Pollution Control Policies," NBER Working Papers 11438, National Bureau of Economic Research, Inc.
    4. Barbara Praetorius, 1996. "Nachfrageseitiges Marktversagen auf dem Energiemarkt: Empirische Evidenz, theoretische Aspekte, politische Folgerungen," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 65(2), pages 143-155.
    5. Sanstad, Alan H & Blumstein, Carl & Stoft, Steven E, 1995. "How high are option values in energy-efficiency investments?," Energy Policy, Elsevier, vol. 23(9), pages 739-743, September.
    6. Richard B. Howarth & Alan H. Sanstad, 1995. "Discount Rates And Energy Efficiency," Contemporary Economic Policy, Western Economic Association International, vol. 13(3), pages 101-109, July.
    7. Thompson, Philip B, 1997. "Evaluating energy efficiency investments: accounting for risk in the discounting process," Energy Policy, Elsevier, vol. 25(12), pages 989-996, October.

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    JEL classification:

    • F0 - International Economics - - General

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