Price Knowledge in Household Demand for Utility Services
研究了家庭在用水需求中是否主动获取价格信息，以及这种知识如何影响价格弹性和用水量。发现知情家庭对价格信号更敏感，但控制其他因素后，价格知识反而增加月用水量。
<i>A household’s decision to acquire price knowledge is endogenous in the demand for utility services and may affect elasticities and consumption levels. A simultaneous equation model with endogenous switching is developed to evaluate the effects of price knowledge and other sources of heterogeneity. Results indicate informed households were more responsive to average and marginal price signals. Informed households also use less water, but this is due to heterogeneity rather than price knowledge. Controlling for heterogeneity, price knowledge actually increases monthly water usage. The implications of accounting for differences in price knowledge in utility demand modeling and demand management policy are discussed.</i>