Dmitry Taubinsky (Harvard) will present:

"The Lightbulb Paradox: Evidence from Two Randomized Experiments"

at 3pm on Wednesday, November 12, 2014 in 310 Silsby


****There are still several available slots, please sign up at the link below****


Please sign up for a meeting, or lunch at:

https://docs.google.com/spreadsheet/ccc?key=0As0WQNxSJWZVdHN6N3FXYk1uWVdtWmxyMEtMdnZuU0E&usp=sharing



                                                                                    Abstract

Imperfect information and inattention to energy costs are important potential justifications for energy efficiency standards and subsidies. We evaluate these policies in the lightbulb market using a theoretical model and two randomized experiments. We derive welfare effects as functions of reduced-form sufficient statistics capturing economic and psychological parameters, which we estimate using a novel within-subject information disclosure experiment. In the context of the model, the main results suggest that moderate subsidies for energy efficient lightbulbs may increase welfare, but informational and attentional biases alone do not justify a ban on incandescent lightbulbs.




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