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Toward an Understanding of the Economics of Prosumers: Evidence from a Natural Field Experiment

Author

Listed:
  • John A. List
  • Ioannis C. Pragidis
  • Michael K. Price

Abstract

Prosumers are becoming increasingly important in global energy consumption and production. We partner with an energy service provider in Sweden to explore the economics facing such agents by conducting a natural field experiment over a 32-month period. As a policy instrument, we explore how simple nudges affect choices on both the consumption and production sides. Importantly, with the added flexibility to influence both sides of the market, and with a rich data set that permits an analysis of intraday, intraweek, and seasonal variation, we can detail effects on overall conservation efforts, intertemporal substitution, load shifting, and net purchases from the grid. The overarching theme is that nudges have the potential to have an even greater impact on the energy market with prosumers compared to their portmanteau components.

Suggested Citation

  • John A. List & Ioannis C. Pragidis & Michael K. Price, 2024. "Toward an Understanding of the Economics of Prosumers: Evidence from a Natural Field Experiment," NBER Working Papers 32837, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:32837
    Note: EEE PE
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    More about this item

    JEL classification:

    • C93 - Mathematical and Quantitative Methods - - Design of Experiments - - - Field Experiments
    • D9 - Microeconomics - - Micro-Based Behavioral Economics
    • Q4 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy

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