Individual Time Preferences and Energy Efficiency
通过对美国房主的调查，研究个人折现率如何影响能源效率投资决策，发现折现率差异显著且受教育程度驱动，对理解能源效率差距和政策评估有启示。
We examine the role of individual discount rates in energy efficiency decisions using evidence from an extensive survey of US homeowners to elicit preferences for energy efficiency and cash flows over time. We find considerable heterogeneity in individual discount rates. We also find that individual time preferences systematically influence willingness to invest in energy efficiency, as measured through product choices, required payback periods, and energy efficiency tax credit claims. Education is a key driver of individual discount rates. Our findings highlight the importance of individual discount rates to understanding energy efficiency investments, the energy-efficiency gap, and policy evaluation.