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Lawrence Berkeley National Laboratory Recent Work Title Loss Aversion and Time-Differentiated Electricity Pricing : Permalink

Content Provider	Semantic Scholar
Author	Spurlock, C. Anna Spurlockú, C. Anna Villasboas, B. Jose Caetano Wolfram, Catherine
Copyright Year	2015
Abstract	I develop a model of loss aversion over electricity expenditure, from which I derive testable predictions for household electricity consumption while on combination time-of-use (TOU) and critical peak pricing (CPP) plans. Testing these predictions results in evidence consistent with loss aversion: (1) spillover e ects positive expenditure shocks resulted in significantly more peak consumption reduction for several weeks thereafter; and (2) clustering disproportionate probability of consuming such that expenditure would be equal between the TOUCPP or standard flat-rate pricing structures. This behavior is inconsistent with a purely neoclassical utility model, and has important implications for application of time-di erentiated electricity pricing. úLawrence Berkeley National Laboratory, 1 Cyclotron Road, Mail Stop 90R4000 Berkeley, CA 94720 USA, caspurlock@lbl.gov. A previous version of this research appeared in my doctoral dissertation from University of California, Berkeley entitled “Essays in Energy Economics.” I would like to thank Peter Berck, Meredith Fowlie, Stefano DellaVigna, Sofia Berto Villas-Boas, Catherine Wolfram, and Koichiro Ito for their invaluable advice and comments. I am very grateful to the California Energy Commission, and particularly David Hungerford, for giving me permission to use the data from the California Statewide Pricing Pilot, and to the Energy Institute at Haas for facilitating my access to these data. All mistakes are my own. Support for this work was provided to Lawrence Berkeley National Laboratory by the U.S. Department of Energy under Contract No. DE-AC02-05CH11231.
File Format	PDF HTM / HTML
Alternate Webpage(s)	https://cloudfront.escholarship.org/dist/prd/content/qt7932t6xd/qt7932t6xd.pdf?t=p0xf9z
Language	English
Access Restriction	Open
Content Type	Text
Resource Type	Article

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