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Chosen Energy Sufficiency: Preference Shocks and Behavioural Biases

Author

Listed:
  • Miquel Oliu-Barton

    (Université Paris Dauphine-PSL - PSL - Université Paris Sciences et Lettres, France Stratégie)

  • Aude Pommeret

    (IREGE - Institut de Recherche en Gestion et en Economie - USMB [Université de Savoie] [Université de Chambéry] - Université Savoie Mont Blanc, France Stratégie)

  • Alice Robinet

    (France Stratégie)

  • Katheline Schubert

    (PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École nationale des ponts et chaussées - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, PJSE - Paris Jourdan Sciences Economiques - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École nationale des ponts et chaussées - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement)

  • Mathilde Viennot

    (France Stratégie)

Abstract

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," PSE-Ecole d'économie de Paris (Postprint) halshs-04814774, HAL.
    • Handle: RePEc:hal:pseptp:halshs-04814774
    DOI: 10.24187/ecostat.2024.543.2117
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    References listed on IDEAS

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    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.
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    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.

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