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Adoption Of Energy-Efficient Air Conditioners And The Principal-Agent Problem: Evidence From China

Author

Listed:
  • XIAO-BING ZHANG

    (��Department of Technology, Management and Economics, Technical University of Denmark, Copenhagen 2800, Denmark)

  • CHANG SU

    (��School of Economics and Management, Beijing Jiaotong University, Beijing 100044, P. R. China)

  • WENJI ZHOU

    (School of Applied Economics, Renmin University of China, Beijing 100872, P. R. China)

  • PING QIN

    (School of Applied Economics, Renmin University of China, Beijing 100872, P. R. China)

Abstract

As an important measure for households’ adaptation to climate change, air conditioning is becoming more and more prevailing in developing countries, which implies a larger demand for electricity and highlights the role of energy-efficient air conditioners (ACs) in energy saving. Using household-level data from China, this paper investigates the determinants of households’ adoption of energy-efficient ACs, with a focus on the role of the split-incentive (principal-agent) problem between homeowners and renters in the adoption of energy-efficient ACs. The results show that the principal-agent (PA) problem does exist in the adoption of energy-efficient ACs in Chinese households, with renter-occupied dwellings being about 10.2% more likely to have low energy-efficient ACs installed in dwellings, compared to homeowner-occupied dwellings. Moreover, the increased energy consumption and carbon emissions due to the PA problem in AC investment are calculated based on the estimated agency effect.

Suggested Citation

  • Xiao-Bing Zhang & Chang Su & Wenji Zhou & Ping Qin, 2024. "Adoption Of Energy-Efficient Air Conditioners And The Principal-Agent Problem: Evidence From China," Climate Change Economics (CCE), World Scientific Publishing Co. Pte. Ltd., vol. 15(02), pages 1-20, May.
    • Handle: RePEc:wsi:ccexxx:v:15:y:2024:i:02:n:s2010007823500252
    DOI: 10.1142/S2010007823500252
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