@article{61652,
  keywords = {Appliances, EES-EG, Energy efficiency policy, Minimum Energy Efficiency Standards},
  author = {Sebastien Houde and C Anna Spurlock},
  title = {Minimum Energy Efficiency Standards and Appliances:  Old and New Economic Rationales},
  abstract = {<p>We revisit Hausman and Joskow (1982){\textquoteright}s economic rationales for appliance minimum energy efficiency standards. In addition to the four market failures they argued could justify appliance standards{\textemdash}energy prices below marginal social cost, consumers underestimating energy prices, consumer discount rates above social discount rates, or principal agent problems{\textemdash}we discuss two additional market failures that are relevant and potentially economically important in this context: market power and innovation market failures. We highlight puzzles uncovered by recent empirical results, and suggest directions future research should take to better understand the normative implications of appliance standards.</p>},
  year = {2016},
  booktitle = {Economics of Energy \& Environmental Policy},
  journal = {Economics of Energy \& Environmental Policy},
  series = {Economics of Energy \& Environmental Policy},
  volume = {5},
  month = {09/2016},
  issn = {ISSN 2160-5882 (Print), ISSN 2160-5890 (Online)},
  doi = {10.5547/2160-5890.5.2.shou},
}