Monday, June 30, 2008

Not Reinventing the Wheel

As interest in consumer responses to price signals from utilities, simple assumptions about rationality should be tempered with attention to research that has been conducted over the last 30 years.

A few highlights:
1976: The importance of education that draws on the local, specific rather than the global and the abstract.
1978: Signaling devices decrease consumption by 15.7%.
1978: Token rewards produce savings (22.5%).
1980: Superior results for individuals in groups (20%) versus individuals alone (15%).
1985: Consumers underestimate efficiency savings and overestimate management and curtailment.
1999: Wide discrepancy between pro conservation attitudes and actual behavior.
2002: The value of goal setting independent of money saving – a 20% reduction.

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