Financial Literacy and Electricity Contracts
通过离散选择实验，研究了澳大利亚维多利亚州居民对电力合同特征的偏好，发现金融素养越高的人越愿意为合同特征付费。
Using a discrete choice experiment, owner occupants of non-apartment dwellings in Victoria, Australia were asked to evaluate alternative electricity contracts with features including increased renewables, different technologies, and demand-side management policies. We assert that a respondent’s financial literacy is correlated with whether they perceive the contract features as investments. To test this, respondents completed a financial literacy quiz, with their corresponding scores used as an indicator of financial literacy. These scores were incorporated within a hybrid mixed logit model to evaluate whether financial literacy explains the variation in choices. Results indicate that respondents with higher levels of financial literacy had a higher willingness to pay for the contract features. This case study is relevant for an environment of rising electricity prices and the transition to greater reliance on renewables.