Model Validity and Transferability Informing Behavioral Energy Policies

Model Validity and Transferability Informing Behavioral Energy Policies

A number of microeconomic choice models are currently applied to demonstrate systematic biases in energy consumer behavior. The models highlight the hidden potential of energy savings from policies that target the so-called behavioral anomalies. Nevertheless, whether these patterns are repeatable or...

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Bibliographic Details
Published in:Energies (Basel) Vol. 14; no. 11; p. 3122
Main Authors: Kontogianni, Areti, Damigos, Dimitris, Skourtos, Michail, Tourkolias, Christos, Denny, Eleanor, Galarraga, Ibon, Kallbekken, Steffen, Lakić, Edin
Format: Journal Article
Language:English
Published: Basel MDPI AG 01-06-2021
Subjects:
Anomalies
behavioral models
Datasets
Decision making
Design
Econometrics
Energy
Energy conservation
Energy consumption
Energy efficiency
Energy industry
Energy policy
Experiments
Households
Hypotheses
model validation
Statistical analysis
Statistical methods
Statistical tests
Greece
Slovenia
Norway
Ireland
Spain
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Summary:A number of microeconomic choice models are currently applied to demonstrate systematic biases in energy consumer behavior. The models highlight the hidden potential of energy savings from policies that target the so-called behavioral anomalies. Nevertheless, whether these patterns are repeatable or not is not clear, because the efforts to determine the transferability or generalizability of these models are practically nonexistent. This paper uses a unique collection of empirical data from five EU countries collected within the CONSEED project to refine and develop further the standard consumer decision model, validate it for policy purposes, and elaborate on its transferability between countries. The pooled samples allow for a more reliable investigation of the relative importance of the factors influencing consumers’ attitudes and beliefs towards energy investment decisions. Based on the statistical tests conducted to evaluate the “transferability” of the pooled models (i.e., the possibility of creating a “universal” model of EE from the pooled model), it can be argued that the models are transferable in specific cases since attitudinal factors and demographic characteristics play a significant role. Although the pooled models are validated, any extrapolation of the above-mentioned findings to specific populations in terms of “space” (i.e., country) and “target” (e.g., sectors and technologies) should be approached with caution from a policy perspective.
ISSN:1996-1073
1996-1073
DOI:10.3390/en14113122