Consumer Rationality and the Status Quo
研究消费者在评估未定价产品（住宅电力服务可靠性）时，现状对其决策的影响，发现显著的现状效应，这对电力公用事业的福利比较和定价有重要启示。
Received microeconomic theory presumes rational consumers maximize utility over all commodity bundles. Recent analysis, however, suggests that a consumer's status quo may limit economic rationality, "bias" consumer decisions, and induce serious errors in survey-based valuations of public and private goods. Using regression and choice-theoretic frameworks, we investigate the existence of status quo effects in the consumer valuation of a particular unpriced product—the reliability of residential electrical service. Such valuations have become important in electric utility resource planning and rate making. We find substantial status quo effects, which must be addressed in welfare comparisons regarding electric service reliability.