IDEAS home Printed from https://ideas.repec.org/a/nse/ecosta/ecostat_2024_543_2.html
   My bibliography  Save this article

Chosen Energy Sufficiency: Preference Shocks and Behavioural Biases

Author

Listed:
  • Miquel Oliu-Barton
  • Aude Pommeret
  • Alice Robinet
  • Katheline Schubert
  • Mathilde Viennot

Abstract

[eng] There is a lot of expectation surrounding energy sufficiency as part of the energy transition. It may result from an increase in energy prices, but it could also be a conscious choice. In this case, it would be the consequence of an adjustment in preferences or a reduction in behavioural biases. Changes in preferences can be modelled as an adjustment to the relative weights attributed by individuals to durable goods, energy or even non-durable goods. Here, we show that the macroeconomic impacts differ largely based on the type of adjustment, which we can use to guide public policy decisions. This then leads to the question of how to bring these preference adjustments in practice. In addition to nudges to reduce behavioural biases, preference changes can stem from a collective organisation and better information, in particular regarding the co-benefits of energy sufficiency.

Suggested Citation

  • Miquel Oliu-Barton & Aude Pommeret & Alice Robinet & Katheline Schubert & Mathilde Viennot, 2024. "Chosen Energy Sufficiency: Preference Shocks and Behavioural Biases," Economie et Statistique / Economics and Statistics, Institut National de la Statistique et des Etudes Economiques (INSEE), issue 543, pages 21-37.
    • Handle: RePEc:nse:ecosta:ecostat_2024_543_2
    DOI: https://doi.org/10.24187/ecostat.2024.543.2117
    as

    Download full text from publisher

    File URL: https://www.insee.fr/en/statistiques/fichier/8260947/02_ES543_Oliu-Barton_et-al_EN.pdf
    Download Restriction: no
    File URL: https://libkey.io/https://doi.org/10.24187/ecostat.2024.543.2117?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Bryan Bollinger & Jesse Burkhardt & Kenneth T. Gillingham, 2020. "Peer Effects in Residential Water Conservation: Evidence from Migration," American Economic Journal: Economic Policy, American Economic Association, vol. 12(3), pages 107-133, August.
    2. Mark Grinblatt & Matti Keloharju & Seppo Ikäheimo, 2008. "Social Influence and Consumption: Evidence from the Automobile Purchases of Neighbors," The Review of Economics and Statistics, MIT Press, vol. 90(4), pages 735-753, November.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Xavier Timbeau, 2024. "Comment – The Lack of Interest in Economics for the Challenge of the Century," Economie et Statistique / Economics and Statistics, Institut National de la Statistique et des Etudes Economiques (INSEE), issue 543, pages 65-74.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Maness, Michael & Cirillo, Cinzia, 2016. "An indirect latent informational conformity social influence choice model: Formulation and case study," Transportation Research Part B: Methodological, Elsevier, vol. 93(PA), pages 75-101.
    2. Omer Gokcekus & Yui Suzuki, 2014. "Is there a Corruption-effect on Conspicuous Consumption?," Margin: The Journal of Applied Economic Research, National Council of Applied Economic Research, vol. 8(3), pages 215-235, August.
    3. Dubey, Subodh & Sharma, Ishant & Mishra, Sabyasachee & Cats, Oded & Bansal, Prateek, 2022. "A General Framework to Forecast the Adoption of Novel Products: A Case of Autonomous Vehicles," Transportation Research Part B: Methodological, Elsevier, vol. 165(C), pages 63-95.
    4. Banuri, Sheheryar & Nguyen, Ha, 2023. "Borrowing to keep up (with the Joneses): Inequality, debt, and conspicuous consumption," Journal of Economic Behavior & Organization, Elsevier, vol. 206(C), pages 222-242.
    5. Bhukya, Ramulu & Paul, Justin, 2023. "Social influence research in consumer behavior: What we learned and what we need to learn? – A hybrid systematic literature review," Journal of Business Research, Elsevier, vol. 162(C).
    6. Mujcic, Redzo & Oswald, Andrew J., 2018. "Is envy harmful to a society's psychological health and wellbeing? A longitudinal study of 18,000 adults," Social Science & Medicine, Elsevier, vol. 198(C), pages 103-111.
    7. Gabrielyan, Gnel & Just, David R., 2022. "The Effect of Logo Visibility on Brand Recognition and Willingness to Pay," 2022 Annual Meeting, July 31-August 2, Anaheim, California 322354, Agricultural and Applied Economics Association.
    8. Curatola, Giuliano, 2017. "Portfolio choice and asset prices when preferences are interdependent," Journal of Economic Behavior & Organization, Elsevier, vol. 140(C), pages 197-223.
    9. Fullerton, Thomas M. & Juarez, David A. & Walke, Adam G., 2012. "Residential electricity consumption in Seattle," Energy Economics, Elsevier, vol. 34(5), pages 1693-1699.
    10. Jurui Zhang & Yong Liu & Yubo Chen, 2015. "Social Learning in Networks of Friends versus Strangers," Marketing Science, INFORMS, vol. 34(4), pages 573-589, July.
    11. Dujardin, Claire & Goffette-Nagot, Florence, 2010. "Neighborhood effects on unemployment?: A test à la Altonji," Regional Science and Urban Economics, Elsevier, vol. 40(6), pages 380-396, November.
    12. P. Baecke & D. Van Den Poel, 2012. "Including Spatial Interdependence in Customer Acquisition Models: a Cross-Category Comparison," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 12/788, Ghent University, Faculty of Economics and Business Administration.
    13. Sumit Agarwal & Vyacheslav Mikhed & Barry Scholnick, 2016. "Does inequality cause financial distress? Evidence from lottery winners and neighboring bankruptcies," Working Papers 16-4, Federal Reserve Bank of Philadelphia.
    14. Wenhua Di & Yichen Su, 2021. "Conspicuous Consumption: Vehicle Purchases by Non-Prime Consumers," Working Papers 2107, Federal Reserve Bank of Dallas.
    15. Maximilian Goethner & Michael Wyrwich, 2020. "Cross-faculty proximity and academic entrepreneurship: the role of business schools," The Journal of Technology Transfer, Springer, vol. 45(4), pages 1016-1062, August.
    16. Jonathan D. Fisher, 2020. "Social Influence And The Consumer Bankruptcy Decision," Contemporary Economic Policy, Western Economic Association International, vol. 38(3), pages 474-482, July.
    17. Anna Dreber & Magnus Johannesson & Yifan Yang, 2024. "Selective reporting of placebo tests in top economics journals," Economic Inquiry, Western Economic Association International, vol. 62(3), pages 921-932, July.
    18. Stephen Billings & David Deming & Stephen L. Ross, 2016. "Partners in Crime: Schools, Neighborhoods and the Formation of Criminal Networks," Working Papers 2016-006, Human Capital and Economic Opportunity Working Group.
    19. Maness, Michael & Cirillo, Cinzia & Dugundji, Elenna R., 2015. "Generalized behavioral framework for choice models of social influence: Behavioral and data concerns in travel behavior," Journal of Transport Geography, Elsevier, vol. 46(C), pages 137-150.
    20. Mujcic, Redzo & Oswald, Andrew J., 2018. "Is Envy Harmful to a Society’s Psychological Health and Wellbeing? A Longitudinal Study of 18,000 Adults," CAGE Online Working Paper Series 361, Competitive Advantage in the Global Economy (CAGE).

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:nse:ecosta:ecostat_2024_543_2. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Veronique Egloff (email available below). General contact details of provider: https://edirc.repec.org/data/inseefr.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.