The Induced Innovation Hypothesis and Energy-Saving Technological Change
通过估计能源消费耐用品的产品特征模型，检验希克斯诱导创新假说，发现能源价格和规制对创新方向有影响，但对整体创新率无显著作用。
We develop a methodology for testing Hicks's induced innovation hypothesis by estimating a product-characteristics model of energy-using consumer durables, augmenting the hypothesis to allow for the influence of government regulations. For the products we explored, the evidence suggests that (i) the <it>rate</it> of overall innovation was independent of energy prices and regulations; (ii) the <it>direction</it> of innovation was responsive to energy price changes for some products but not for others; (iii) energy price changes induced changes in the subset of technically feasible models that were offered for sale; (iv) this responsiveness increased substantially during the period after energy-efficiency product labeling was required; and (v) nonetheless, a sizable portion of efficiency improvements were autonomous.