Retrospective Evaluation of Appliance Price Trends
Date Published |
11/2009
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Publication Type | Journal Article
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Authors | |
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DOI |
10.1016/j.enpol.2008.09.087
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Abstract |
Real prices of major appliances (refrigerators, dishwashers, heating and cooling equipment) have been falling since the late 1970s despite increases in appliance efficiency and other quality variables. This paper demonstrates that historic increases in efficiency over time, including those resulting from minimum efficiency standards, incur smaller price increases than were expected by the Department of Energy (DOE) forecasts made in conjunction with standards. This effect can be explained by technological innovation, which lowers the cost of efficiency, and by market changes contributing to lower markups and economies of scale in production of higher efficiency units. We reach four principal conclusions about appliance trends and retail price setting:
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Journal |
Energy Policy
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Volume |
37
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Year of Publication |
2009
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Issue |
2
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Pagination |
597-605
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Keywords | |
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Research Areas | |
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