Associate Professor |
Co-Director |
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Attribute Substitution in Household Vehicle PortfoliosThe idea that products can act as complements or substitutes is commonplace in economics. What is less well understood is how households trade off attributes of one product with the attributes of another. We find strong evidence of attribute substitution in the household vehicle portfolio. Our findings suggest that attribute substitution may erode a substantial portion of the expected future gasoline savings from fuel economy standards, particularly when attribute-based.
Energy Efficiency in SchoolsUsing a new machine learning approach that we develop, we find that energy efficiency upgrades in California K-12 schools reduce electricity consumption by 3 percent. However, these reductions total only 24 percent of ex ante expected savings. HVAC and lighting upgrades perform better, but still deliver less than half of what was expected.
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