Nudging Energy Efficiency Behavior: The Role of Information Labels
Abstract
We use choice experiments and randomized information treatments to study the effectiveness of alternative energy efficiency labels in guiding households’ energy efficiency decisions. We disentangle the relative importance of different types of information and distinguish it from intertemporal behavior. We find that insufficient information can lead to considerable undervaluation of energy efficiency. Simple information on the monetary value of energy savings was the most important element guiding cost-efficient energy efficiency investments, with information on physical energy use and carbon dioxide emissions having additional but lesser importance. The degree to which the current US EnergyGuide label guided cost-efficient decisions depends on the discount rate. Using elicited individual discount rates, the current EnergyGuide label came very close to guiding cost-efficient decisions. Using a uniform 5% discount rate, the current label led to one-third undervaluation of energy efficiency. Our results reinforce the centrality of discounting in understanding individual behavior and guiding policy.
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Informational labels and awareness campaigns have been shown to be effective drivers of eco-friendly behaviors, depending on the context.
“Awareness: Informational labels and awareness campaigns have been shown to be effective drivers of eco-friendly behaviors (depending on the context) (Banerjee and Solomon, 2003; Sundar et al., 2018; Newell and Siikamäki, 2014; Byerly et al., 2018).”
From Towards the Systematic Reporting of the Energy and Carbon Footprints of Machine Learning (2020) · cites this paper as Newell and Siikamäki, 2014
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- Authors
- Newell, R. G., & Siikamäki, J.
- ORCID
- Newell, Richard G.
- Venue
- Journal of the Association of Environmental and Resource Economists
- Publisher
- University of Chicago Press
- Published
- 2014-12
- Volume
- 1
- Issue
- 4
- Pages
- 555-598
- ISSN
- 2333-5955 (ISSN-L)
- 2333-5963
- OpenAlex
- W3022555407
- Cited by
- 256
- References
- 69
- Citations by year
- 2026: 9 · 2025: 24 · 2024: 22 · 2023: 15 · 2022: 26 · 2021: 33 · 2020: 27 · 2019: 30 · 2018: 21 · 2017: 15 · 2016: 13 · 2015: 16 · 2014: 4 · 2013: 1
- FWCI
- 5.28
- Type
- journal article
- Language
- en
- Open access
- closed
- Locations
- Journal of the Association of Environmental and Resource Economists (publishedVersion)
- Topics
- Physical Sciences › Energy › Renewable Energy, Sustainability and the Environment › Energy, Environment, and Transportation Policies
- Social Sciences › Decision Sciences › General Decision Sciences › Decision-Making and Behavioral Economics
- Physical Sciences › Environmental Science › Management, Monitoring, Policy and Law › Environmental Education and Sustainability
- Keywords
- energy efficiency, nudging, discounting, discount rate, energy efficiency investment
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