Goal setting and energy conservation
•We study the demand for an energy conservation program with non-binding goal-setting.•We develop a theoretical model to explain adoption and post-adoption consumption.•We assume consumers have present-biased and reference-dependent preferences.•Average savings is 4%, but only those with realistic g...
Gespeichert in:
| Veröffentlicht in: | Journal of economic behavior & organization 2014-11, Vol.107, p.209-227 |
|---|---|
| Hauptverfasser: | , |
| Format: | Artikel |
| Sprache: | eng |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Tags: |
Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
|
| container_end_page | 227 |
|---|---|
| container_issue | |
| container_start_page | 209 |
| container_title | Journal of economic behavior & organization |
| container_volume | 107 |
| creator | Harding, Matthew Hsiaw, Alice |
| description | •We study the demand for an energy conservation program with non-binding goal-setting.•We develop a theoretical model to explain adoption and post-adoption consumption.•We assume consumers have present-biased and reference-dependent preferences.•Average savings is 4%, but only those with realistic goals persistently save 11%.•Findings support our model and are difficult to explain with standard preferences.
This paper develops a theoretical model of consumer demand for an energy conservation program that involves non-binding, self-set goals. We present evidence from a Northern Illinois goal-setting program, aimed at reducing residential electricity consumption, which is difficult to reconcile with standard preferences and is broadly consistent with a model of present-biased consumers with reference-dependent preferences. We find that the need for commitment is correlated with program adoption, higher pre-adoption consumption, and lower responsiveness to goals. Consumers choosing realistic goals persistently save substantially more, achieving savings of nearly 11%, than those choosing very low or unrealistically high goals. |
| doi_str_mv | 10.1016/j.jebo.2014.04.012 |
| format | Article |
| fullrecord | <record><control><sourceid>proquest_cross</sourceid><recordid>TN_cdi_proquest_miscellaneous_1634462008</recordid><sourceformat>XML</sourceformat><sourcesystem>PC</sourcesystem><els_id>S0167268114001176</els_id><sourcerecordid>3492303981</sourcerecordid><originalsourceid>FETCH-LOGICAL-c539t-8baf13e5b32634ed498b8a42ed0e7565c726e6c9201252acac947b67a9c596593</originalsourceid><addsrcrecordid>eNp9kEFLxDAQhYMoWFf_gKeCHry0JmmTNOBFFl2FBS96Dmk6u6R0kzXpLuy_N6WePDgMzOV7jzcPoVuCS4IJf-zLHlpfUkzqEqcl9AxlpBGyIIKRc5QlSBSUN-QSXcXY4zSCygzdr7we8gjjaN02167LwUHYnnLjXYRw1KP17hpdbPQQ4eb3LtDX68vn8q1Yf6zel8_rwrBKjkXT6g2pgLUV5VUNXS2bttE1hQ6DYJwZQTlwI1NKyqg22shatFxoaZjkTFYL9DD77oP_PkAc1c5GA8OgHfhDVCTZ1pxi3CT07g_a-0NwKV2iaHqUV5gmis6UCT7GABu1D3anw0kRrKbiVK-m4tRUnMJpySR6mkWQXj1aCCoaC85AZwOYUXXe_if_AZfOdAw</addsrcrecordid><sourcetype>Aggregation Database</sourcetype><iscdi>true</iscdi><recordtype>article</recordtype><pqid>1622686302</pqid></control><display><type>article</type><title>Goal setting and energy conservation</title><source>Applied Social Sciences Index & Abstracts (ASSIA)</source><source>Elsevier ScienceDirect Journals</source><creator>Harding, Matthew ; Hsiaw, Alice</creator><creatorcontrib>Harding, Matthew ; Hsiaw, Alice</creatorcontrib><description>•We study the demand for an energy conservation program with non-binding goal-setting.•We develop a theoretical model to explain adoption and post-adoption consumption.•We assume consumers have present-biased and reference-dependent preferences.•Average savings is 4%, but only those with realistic goals persistently save 11%.•Findings support our model and are difficult to explain with standard preferences.
This paper develops a theoretical model of consumer demand for an energy conservation program that involves non-binding, self-set goals. We present evidence from a Northern Illinois goal-setting program, aimed at reducing residential electricity consumption, which is difficult to reconcile with standard preferences and is broadly consistent with a model of present-biased consumers with reference-dependent preferences. We find that the need for commitment is correlated with program adoption, higher pre-adoption consumption, and lower responsiveness to goals. Consumers choosing realistic goals persistently save substantially more, achieving savings of nearly 11%, than those choosing very low or unrealistically high goals.</description><identifier>ISSN: 0167-2681</identifier><identifier>EISSN: 1879-1751</identifier><identifier>DOI: 10.1016/j.jebo.2014.04.012</identifier><identifier>CODEN: JEBOD9</identifier><language>eng</language><publisher>Amsterdam: Elsevier B.V</publisher><subject>Consumer behavior ; Consumer demand ; Consumers ; Consumption ; Correlation analysis ; Decision making models ; Electricity ; Energy conservation ; Energy consumption ; Energy utilization ; Goal setting ; Illinois ; Reference dependence ; Self-control ; Studies ; U.S.A</subject><ispartof>Journal of economic behavior & organization, 2014-11, Vol.107, p.209-227</ispartof><rights>2014 Elsevier B.V.</rights><rights>Copyright Elsevier Sequoia S.A. Nov 2014</rights><lds50>peer_reviewed</lds50><oa>free_for_read</oa><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c539t-8baf13e5b32634ed498b8a42ed0e7565c726e6c9201252acac947b67a9c596593</citedby><cites>FETCH-LOGICAL-c539t-8baf13e5b32634ed498b8a42ed0e7565c726e6c9201252acac947b67a9c596593</cites></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktohtml>$$Uhttps://www.sciencedirect.com/science/article/pii/S0167268114001176$$EHTML$$P50$$Gelsevier$$H</linktohtml><link.rule.ids>314,776,780,3537,27901,27902,30976,65306</link.rule.ids></links><search><creatorcontrib>Harding, Matthew</creatorcontrib><creatorcontrib>Hsiaw, Alice</creatorcontrib><title>Goal setting and energy conservation</title><title>Journal of economic behavior & organization</title><description>•We study the demand for an energy conservation program with non-binding goal-setting.•We develop a theoretical model to explain adoption and post-adoption consumption.•We assume consumers have present-biased and reference-dependent preferences.•Average savings is 4%, but only those with realistic goals persistently save 11%.•Findings support our model and are difficult to explain with standard preferences.
This paper develops a theoretical model of consumer demand for an energy conservation program that involves non-binding, self-set goals. We present evidence from a Northern Illinois goal-setting program, aimed at reducing residential electricity consumption, which is difficult to reconcile with standard preferences and is broadly consistent with a model of present-biased consumers with reference-dependent preferences. We find that the need for commitment is correlated with program adoption, higher pre-adoption consumption, and lower responsiveness to goals. Consumers choosing realistic goals persistently save substantially more, achieving savings of nearly 11%, than those choosing very low or unrealistically high goals.</description><subject>Consumer behavior</subject><subject>Consumer demand</subject><subject>Consumers</subject><subject>Consumption</subject><subject>Correlation analysis</subject><subject>Decision making models</subject><subject>Electricity</subject><subject>Energy conservation</subject><subject>Energy consumption</subject><subject>Energy utilization</subject><subject>Goal setting</subject><subject>Illinois</subject><subject>Reference dependence</subject><subject>Self-control</subject><subject>Studies</subject><subject>U.S.A</subject><issn>0167-2681</issn><issn>1879-1751</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2014</creationdate><recordtype>article</recordtype><sourceid>7QJ</sourceid><recordid>eNp9kEFLxDAQhYMoWFf_gKeCHry0JmmTNOBFFl2FBS96Dmk6u6R0kzXpLuy_N6WePDgMzOV7jzcPoVuCS4IJf-zLHlpfUkzqEqcl9AxlpBGyIIKRc5QlSBSUN-QSXcXY4zSCygzdr7we8gjjaN02167LwUHYnnLjXYRw1KP17hpdbPQQ4eb3LtDX68vn8q1Yf6zel8_rwrBKjkXT6g2pgLUV5VUNXS2bttE1hQ6DYJwZQTlwI1NKyqg22shatFxoaZjkTFYL9DD77oP_PkAc1c5GA8OgHfhDVCTZ1pxi3CT07g_a-0NwKV2iaHqUV5gmis6UCT7GABu1D3anw0kRrKbiVK-m4tRUnMJpySR6mkWQXj1aCCoaC85AZwOYUXXe_if_AZfOdAw</recordid><startdate>20141101</startdate><enddate>20141101</enddate><creator>Harding, Matthew</creator><creator>Hsiaw, Alice</creator><general>Elsevier B.V</general><general>Elsevier Sequoia S.A</general><scope>AAYXX</scope><scope>CITATION</scope><scope>7QJ</scope><scope>8BJ</scope><scope>FQK</scope><scope>JBE</scope></search><sort><creationdate>20141101</creationdate><title>Goal setting and energy conservation</title><author>Harding, Matthew ; Hsiaw, Alice</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c539t-8baf13e5b32634ed498b8a42ed0e7565c726e6c9201252acac947b67a9c596593</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2014</creationdate><topic>Consumer behavior</topic><topic>Consumer demand</topic><topic>Consumers</topic><topic>Consumption</topic><topic>Correlation analysis</topic><topic>Decision making models</topic><topic>Electricity</topic><topic>Energy conservation</topic><topic>Energy consumption</topic><topic>Energy utilization</topic><topic>Goal setting</topic><topic>Illinois</topic><topic>Reference dependence</topic><topic>Self-control</topic><topic>Studies</topic><topic>U.S.A</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Harding, Matthew</creatorcontrib><creatorcontrib>Hsiaw, Alice</creatorcontrib><collection>CrossRef</collection><collection>Applied Social Sciences Index & Abstracts (ASSIA)</collection><collection>International Bibliography of the Social Sciences (IBSS)</collection><collection>International Bibliography of the Social Sciences</collection><collection>International Bibliography of the Social Sciences</collection><jtitle>Journal of economic behavior & organization</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Harding, Matthew</au><au>Hsiaw, Alice</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>Goal setting and energy conservation</atitle><jtitle>Journal of economic behavior & organization</jtitle><date>2014-11-01</date><risdate>2014</risdate><volume>107</volume><spage>209</spage><epage>227</epage><pages>209-227</pages><issn>0167-2681</issn><eissn>1879-1751</eissn><coden>JEBOD9</coden><abstract>•We study the demand for an energy conservation program with non-binding goal-setting.•We develop a theoretical model to explain adoption and post-adoption consumption.•We assume consumers have present-biased and reference-dependent preferences.•Average savings is 4%, but only those with realistic goals persistently save 11%.•Findings support our model and are difficult to explain with standard preferences.
This paper develops a theoretical model of consumer demand for an energy conservation program that involves non-binding, self-set goals. We present evidence from a Northern Illinois goal-setting program, aimed at reducing residential electricity consumption, which is difficult to reconcile with standard preferences and is broadly consistent with a model of present-biased consumers with reference-dependent preferences. We find that the need for commitment is correlated with program adoption, higher pre-adoption consumption, and lower responsiveness to goals. Consumers choosing realistic goals persistently save substantially more, achieving savings of nearly 11%, than those choosing very low or unrealistically high goals.</abstract><cop>Amsterdam</cop><pub>Elsevier B.V</pub><doi>10.1016/j.jebo.2014.04.012</doi><tpages>19</tpages><oa>free_for_read</oa></addata></record> |
| fulltext | fulltext |
| identifier | ISSN: 0167-2681 |
| ispartof | Journal of economic behavior & organization, 2014-11, Vol.107, p.209-227 |
| issn | 0167-2681 1879-1751 |
| language | eng |
| recordid | cdi_proquest_miscellaneous_1634462008 |
| source | Applied Social Sciences Index & Abstracts (ASSIA); Elsevier ScienceDirect Journals |
| subjects | Consumer behavior Consumer demand Consumers Consumption Correlation analysis Decision making models Electricity Energy conservation Energy consumption Energy utilization Goal setting Illinois Reference dependence Self-control Studies U.S.A |
| title | Goal setting and energy conservation |
| url | https://sfx.bib-bvb.de/sfx_tum?ctx_ver=Z39.88-2004&ctx_enc=info:ofi/enc:UTF-8&ctx_tim=2025-02-01T15%3A18%3A55IST&url_ver=Z39.88-2004&url_ctx_fmt=infofi/fmt:kev:mtx:ctx&rfr_id=info:sid/primo.exlibrisgroup.com:primo3-Article-proquest_cross&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.genre=article&rft.atitle=Goal%20setting%20and%20energy%20conservation&rft.jtitle=Journal%20of%20economic%20behavior%20&%20organization&rft.au=Harding,%20Matthew&rft.date=2014-11-01&rft.volume=107&rft.spage=209&rft.epage=227&rft.pages=209-227&rft.issn=0167-2681&rft.eissn=1879-1751&rft.coden=JEBOD9&rft_id=info:doi/10.1016/j.jebo.2014.04.012&rft_dat=%3Cproquest_cross%3E3492303981%3C/proquest_cross%3E%3Curl%3E%3C/url%3E&disable_directlink=true&sfx.directlink=off&sfx.report_link=0&rft_id=info:oai/&rft_pqid=1622686302&rft_id=info:pmid/&rft_els_id=S0167268114001176&rfr_iscdi=true |