Power To Choose

Author: Ali Hortaçsu
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ISBN:
File Size: 25,11 MB
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Many jurisdictions around the world have deregulated utilities and opened retail markets to competition. However, inertial decisionmaking can diminish consumer benefits of retail competition. Using household-level data from the Texas residential electricity market, we document evidence of consumer inertia. We estimate an econometric model of retail choice to measure two sources of inertia: (1) search frictions/inattention, and (2) a brand advantage that consumers afford the incumbent. We find that households rarely search for alternative retailers, and when they do search, households attach a brand advantage to the incumbent. Counterfactual experiments show that low-cost information interventions can notably increase consumer surplus.
Power to Choose?
Language: un
Pages: 44
Authors: Ali Hortaçsu, Seyed Ali Madanizadeh, Steven L. Puller, National Bureau of Economic Research
Categories: Consumer behavior
Type: BOOK - Published: 2015 - Publisher:

Many jurisdictions around the world have deregulated utilities and opened retail markets to competition. However, inertial decisionmaking can diminish consumer benefits of retail competition. Using household-level data from the Texas residential electricity market, we document evidence of consumer inertia. We estimate an econometric model of retail choice to measure two
Power to Choose? An Analysis of Consumer Inertia in the Residential Electricity Market
Language: un
Pages:
Authors: Ali Hortaçsu
Categories: Consumer behavior
Type: BOOK - Published: 2015 - Publisher:

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