Gautham G. Vadakkepatt, Karen Page Winterich, Vikas Mittal, W. Zinn, L. Beitelspacher, John A. Aloysius, Jessica Ginger, Julie Reilman
As consumers seek products that cause minimal environmental harm and bring about positive social impact, and as awareness of supply chain impact grows, retailers must embrace sustainability. Given their unique position in the supply chain between upstream suppliers and downstream consumers, retailers are key to a circular economy in which products at the initial end-of-life stage are returned to the supply chain for continued use. By serving as a connection between suppliers and consumers, retail initiatives can help to reduce, reuse, and recycle. Furthermore, retailers can leverage their unique position in the supply chain to enable and legitimize a focus on social issues across the supply chain. We discuss such actions, the challenges that need to be overcome to have scalable impact, and the mechanisms retailers can utilize to make such progress.
{"title":"Sustainable Retailing","authors":"Gautham G. Vadakkepatt, Karen Page Winterich, Vikas Mittal, W. Zinn, L. Beitelspacher, John A. Aloysius, Jessica Ginger, Julie Reilman","doi":"10.2139/ssrn.3714958","DOIUrl":"https://doi.org/10.2139/ssrn.3714958","url":null,"abstract":"As consumers seek products that cause minimal environmental harm and bring about positive social impact, and as awareness of supply chain impact grows, retailers must embrace sustainability. Given their unique position in the supply chain between upstream suppliers and downstream consumers, retailers are key to a circular economy in which products at the initial end-of-life stage are returned to the supply chain for continued use. By serving as a connection between suppliers and consumers, retail initiatives can help to reduce, reuse, and recycle. Furthermore, retailers can leverage their unique position in the supply chain to enable and legitimize a focus on social issues across the supply chain. We discuss such actions, the challenges that need to be overcome to have scalable impact, and the mechanisms retailers can utilize to make such progress.","PeriodicalId":126680,"journal":{"name":"SRPN: Product Demand Issues (Topic)","volume":"35 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-10-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129801744","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Since independence, Ghana has experienced four major power crises as a result of the low water level in the hydro dams to generate the required amount of power for the country as well as limited and expensive supply of crude oil and gas. These energy supply constraints make it imperative for the country to rely on demand‐side management policies to address the energy crisis of the country. However, demand‐side management policies that are applied in generic terms without knowing the exact cause are likely to fail. This study therefore decomposes the factors that influence energy consumption into activity effect, intensity effect and structural effect, so that policymakers will know which factor(s) and also the sectors of the economy that are responsible for the large increases in energy consumption. This way, policymakers will apply the appropriate demand‐side management policy to a particular factor(s) and the sectors causing the increase to get the desired results. The study finds that activity effect is the main driver of energy consumption in Ghana.
{"title":"Analysis of the Drivers of Ghana's Energy Demand Change Using the Laspeyres Index Method of Decomposition: Q‐Effect, I‐Effect and S‐Effect","authors":"B. Akrofi, I. Ackah, D. Sakyi","doi":"10.1111/opec.12137","DOIUrl":"https://doi.org/10.1111/opec.12137","url":null,"abstract":"Since independence, Ghana has experienced four major power crises as a result of the low water level in the hydro dams to generate the required amount of power for the country as well as limited and expensive supply of crude oil and gas. These energy supply constraints make it imperative for the country to rely on demand‐side management policies to address the energy crisis of the country. However, demand‐side management policies that are applied in generic terms without knowing the exact cause are likely to fail. This study therefore decomposes the factors that influence energy consumption into activity effect, intensity effect and structural effect, so that policymakers will know which factor(s) and also the sectors of the economy that are responsible for the large increases in energy consumption. This way, policymakers will apply the appropriate demand‐side management policy to a particular factor(s) and the sectors causing the increase to get the desired results. The study finds that activity effect is the main driver of energy consumption in Ghana.","PeriodicalId":126680,"journal":{"name":"SRPN: Product Demand Issues (Topic)","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116894964","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
A large body of literature shows that the provision of social comparisons can cause households to reduce residential energy and water use. In this paper, we carry out a field experiment that contributes to this literature in two important ways. First, we study a social comparison treatment that is continuous and communicated via pre-installed in-home displays, which are salient and updated in real time. Second, we estimate the effects of provision of social comparisons on two distinguished resources – electricity and water – in the same experimental setting. We find that, on average, our social comparison reduces daily residential energy consumption by 6.7 percent but has no effect on overall residential water use. The electricity savings are impersistent and occur in the evening hours, which only slightly overlap with peak hours. We argue that electricity conservation due to social comparisons is driven by short-run changes in households’ electricity saving behavior.
{"title":"Social Comparisons in Real Time: A Field Experiment of Residential Electricity and Water Use","authors":"A. Kažukauskas, Thomas Broberg, J. Jaraitė","doi":"10.2139/ssrn.3075938","DOIUrl":"https://doi.org/10.2139/ssrn.3075938","url":null,"abstract":"A large body of literature shows that the provision of social comparisons can cause households to reduce residential energy and water use. In this paper, we carry out a field experiment that contributes to this literature in two important ways. First, we study a social comparison treatment that is continuous and communicated via pre-installed in-home displays, which are salient and updated in real time. Second, we estimate the effects of provision of social comparisons on two distinguished resources – electricity and water – in the same experimental setting. We find that, on average, our social comparison reduces daily residential energy consumption by 6.7 percent but has no effect on overall residential water use. The electricity savings are impersistent and occur in the evening hours, which only slightly overlap with peak hours. We argue that electricity conservation due to social comparisons is driven by short-run changes in households’ electricity saving behavior.","PeriodicalId":126680,"journal":{"name":"SRPN: Product Demand Issues (Topic)","volume":"60 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-11-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114381884","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Emerging nations such as India, with fast pace of development and rapid urbanisation, are increasingly witnessing a problem of solid waste mismanagement because of rising population and industrialisation. Factors associated with this advancement put pressure on the current municipal infrastructures, services and financial resources. This study employs cross-sectional survey analysis across eleven districts of Delhi to determine inhabitant’s willingness to pay (WTP) for improved waste management services and also suggests measures to control this menace. One sample city from each district is chosen and a contingent valuation methodology is used to estimate WTP. Economic valuation of the benefits derived from cleaner environment is done through stratified random sampling technique from each sample city. The survey has been administered among 450 respondents of Delhi. The sample cities chosen for the project are “Amar Colony (South-East Delhi), Janakpuri (West Delhi), Rohini (North-West Delhi), Kamla Nagar/Model town (North Delhi), Saket (South Delhi), Darya Ganj (Central Delhi), Yamuna Vihar (North-East Delhi), Satya Niketan (South-West Delhi), Karkardooma (East Delhi), Vasant Vihar (New Delhi) and Shahdara.” The respondents in the survey are divided into three categories, Households, Recognised Branded Vendors and Unbranded Vendors, representing the commercial faction of society.A binary response question followed by an open ended question have been put forward to the respondents in order to measure their WTP The administered survey shows that 81% of respondents have positive WTP for improved solid waste management (SWM) services. Logistic and multiple regression models are used to estimate the WTP. As per the regression analysis, the mean WTP for entire Delhi region came out to be approx ₹155/month. Of which WTP for the branded Vendors is ₹311/month, WTP of Household is ₹114/month and WTP for unbranded Vendors is ₹39/month. The key determinants of WTP are income level, education level, perception of the surveyed area’s environment quality, dissatisfaction from current SWM services and past disease trajectory, contracted from poor solid waste management. The respondents with higher levels of income and education show higher WTP. However, there is a negative relationship of dissatisfaction level and serious disease history with WTP. The per capita waste generation for different regions of Delhi has been calculated with a maximum generation of 0.507Kgper person in the MCD zone.A rank has been assigned to each city on the basis of perception of the respondents on three grounds: Environmental Quality, Satisfaction with current solid waste management and Prior Disease History Trajectory. The top five cities which need immediate attention are Darya Ganj, Yamuna Vihar, Satya Niketan, KarKardooma and Shahdara. The findings from this study can aid policy-makers in formulating the solid waste management measures in Delhi as well as in other regions facing s
{"title":"Determinants of Improved Waste Management Services in Delhi: An Economic Valuation","authors":"Namrata Sharma","doi":"10.2139/ssrn.2804962","DOIUrl":"https://doi.org/10.2139/ssrn.2804962","url":null,"abstract":"Emerging nations such as India, with fast pace of development and rapid urbanisation, are increasingly witnessing a problem of solid waste mismanagement because of rising population and industrialisation. Factors associated with this advancement put pressure on the current municipal infrastructures, services and financial resources. This study employs cross-sectional survey analysis across eleven districts of Delhi to determine inhabitant’s willingness to pay (WTP) for improved waste management services and also suggests measures to control this menace. One sample city from each district is chosen and a contingent valuation methodology is used to estimate WTP. Economic valuation of the benefits derived from cleaner environment is done through stratified random sampling technique from each sample city. The survey has been administered among 450 respondents of Delhi. The sample cities chosen for the project are “Amar Colony (South-East Delhi), Janakpuri (West Delhi), Rohini (North-West Delhi), Kamla Nagar/Model town (North Delhi), Saket (South Delhi), Darya Ganj (Central Delhi), Yamuna Vihar (North-East Delhi), Satya Niketan (South-West Delhi), Karkardooma (East Delhi), Vasant Vihar (New Delhi) and Shahdara.” The respondents in the survey are divided into three categories, Households, Recognised Branded Vendors and Unbranded Vendors, representing the commercial faction of society.A binary response question followed by an open ended question have been put forward to the respondents in order to measure their WTP The administered survey shows that 81% of respondents have positive WTP for improved solid waste management (SWM) services. Logistic and multiple regression models are used to estimate the WTP. As per the regression analysis, the mean WTP for entire Delhi region came out to be approx ₹155/month. Of which WTP for the branded Vendors is ₹311/month, WTP of Household is ₹114/month and WTP for unbranded Vendors is ₹39/month. The key determinants of WTP are income level, education level, perception of the surveyed area’s environment quality, dissatisfaction from current SWM services and past disease trajectory, contracted from poor solid waste management. The respondents with higher levels of income and education show higher WTP. However, there is a negative relationship of dissatisfaction level and serious disease history with WTP. The per capita waste generation for different regions of Delhi has been calculated with a maximum generation of 0.507Kgper person in the MCD zone.A rank has been assigned to each city on the basis of perception of the respondents on three grounds: Environmental Quality, Satisfaction with current solid waste management and Prior Disease History Trajectory. The top five cities which need immediate attention are Darya Ganj, Yamuna Vihar, Satya Niketan, KarKardooma and Shahdara. The findings from this study can aid policy-makers in formulating the solid waste management measures in Delhi as well as in other regions facing s","PeriodicalId":126680,"journal":{"name":"SRPN: Product Demand Issues (Topic)","volume":"61 5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-07-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130013775","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper investigates household decision-making behaviour in the market for energy-efficient lighting and household appliances in Delhi, India to study the energy efficiency gap in a behavioural economics framework. In particular, a unique primary dataset of survey responses and incentivised choice experiments is analysed to test whether under-investment in residential energy-efficient technologies is explained by present-biased preferences. A Multiple Price List (MPL) set is employed to compute the standard discount factor, and the present bias and long-run components of a quasi-hyperbolic specification. The results show that individuals who are more patient and less present-biased than the sample average are also more likely to invest in energy-efficient appliances. As expected, time preferences are found to be relevant for larger purchases such as refrigerators but lose some or all of their explanatory power for inexpensive purchase decisions such as light bulbs. While the average household is generally found to exhibit present-biased preferences, more work is needed to quantify its weight relative to other factors that explain the energy efficiency gap.
{"title":"Harvesting the Low-Hanging Fruit: A Behavioural Study of Energy-Efficient Household Appliance Purchases in India","authors":"F. Fuerst, R. Singh","doi":"10.2139/ssrn.2756019","DOIUrl":"https://doi.org/10.2139/ssrn.2756019","url":null,"abstract":"This paper investigates household decision-making behaviour in the market for energy-efficient lighting and household appliances in Delhi, India to study the energy efficiency gap in a behavioural economics framework. In particular, a unique primary dataset of survey responses and incentivised choice experiments is analysed to test whether under-investment in residential energy-efficient technologies is explained by present-biased preferences. A Multiple Price List (MPL) set is employed to compute the standard discount factor, and the present bias and long-run components of a quasi-hyperbolic specification. The results show that individuals who are more patient and less present-biased than the sample average are also more likely to invest in energy-efficient appliances. As expected, time preferences are found to be relevant for larger purchases such as refrigerators but lose some or all of their explanatory power for inexpensive purchase decisions such as light bulbs. While the average household is generally found to exhibit present-biased preferences, more work is needed to quantify its weight relative to other factors that explain the energy efficiency gap.","PeriodicalId":126680,"journal":{"name":"SRPN: Product Demand Issues (Topic)","volume":"55 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-03-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131688655","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Nicolas Borzykowski, Andrea Baranzini, David Maradan
French Abstract: Nous menons une evaluation contingente pour estimer la disponibilite a payer (DAP) pour un programme de creation de nouvelles reserves forestieres en Suisse et en analyser ses determinants. L'analyse parametrique et non-parametrique des reponses au choix dichotomique (Single Bounded Dichotomous Choice) indique une DAP d'environ 470 CHF par annee et par menage. Ce montant est de loin superieur aux couts engendres par ce programme. L'analyse des determinants indique un effet-revenu positif mais limite par un seuil.English Abstract: We run a contingent valuation to estimate the willingness-to-pay (WTP) for a program aiming at creating new forest reserves in Switzerland and analyze its determinants. The parametric and nonparametric analyses of the single-bounded-dichotomous-choice answers indicate a WTP of about CHF470 per year and per household. This amount is much higher than costs involved by the program. The analysis of acceptance determinants reveals a positive but bounded income-effect.
{"title":"Y a-t-il assez de réserves forestières en Suisse? Une évaluation contingente (Are There Enough Forest Reserves in Switzerland? A Contingent Valuation)","authors":"Nicolas Borzykowski, Andrea Baranzini, David Maradan","doi":"10.2139/ssrn.2696865","DOIUrl":"https://doi.org/10.2139/ssrn.2696865","url":null,"abstract":"French Abstract: Nous menons une evaluation contingente pour estimer la disponibilite a payer (DAP) pour un programme de creation de nouvelles reserves forestieres en Suisse et en analyser ses determinants. L'analyse parametrique et non-parametrique des reponses au choix dichotomique (Single Bounded Dichotomous Choice) indique une DAP d'environ 470 CHF par annee et par menage. Ce montant est de loin superieur aux couts engendres par ce programme. L'analyse des determinants indique un effet-revenu positif mais limite par un seuil.English Abstract: We run a contingent valuation to estimate the willingness-to-pay (WTP) for a program aiming at creating new forest reserves in Switzerland and analyze its determinants. The parametric and nonparametric analyses of the single-bounded-dichotomous-choice answers indicate a WTP of about CHF470 per year and per household. This amount is much higher than costs involved by the program. The analysis of acceptance determinants reveals a positive but bounded income-effect.","PeriodicalId":126680,"journal":{"name":"SRPN: Product Demand Issues (Topic)","volume":"54 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132818659","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Electricity resource adequacy is the most urgent and controversial challenge facing the Electric Reliability Council of Texas (ERCOT) market. The policy discussions have neglected some very simple steps that could be taken to promote demand response and reduce peak demand. An allocation of some of the responsibility for non-spinning reserves based on the contribution of a load serving entity (LSE) to peak demand would encourage LSEs to undertake programs to reduce their contribution to the peak. An extension of the four coincident peak (4 CP) pricing used to charge large industrial energy consumers for transmission services to smaller commercial and residential loads would encourage smaller consumers to reduce their peak usage. Narrowing the definition of “peak demand” in the Public Utility Commission of Texas (PUCT) energy efficiency rules would encourage energy efficiency measures better focused on peak demand reduction.
电力资源充足性是德克萨斯州电力可靠性委员会(ERCOT)市场面临的最紧迫和最具争议的挑战。政策讨论忽略了一些非常简单的步骤，这些步骤可以促进需求响应并减少需求峰值。根据负荷服务实体(LSE)对峰值需求的贡献来分配一些非旋转储备的责任，将鼓励LSE实施减少其对峰值贡献的计划。将向大型工业能源消费者收取传输服务费用的四个同步峰值(4cp)定价扩展到较小的商业和住宅负荷，将鼓励较小的消费者减少其峰值使用量。在德州公用事业委员会(Public Utility Commission of Texas, PUCT)的能效规定中，缩小“峰值需求”的定义，将鼓励能效措施更好地侧重于减少峰值需求。
{"title":"Three Simple Steps to Clip the Peak in the Texas (ERCOT) Electricity Market","authors":"J. Zarnikau","doi":"10.2139/ssrn.2334001","DOIUrl":"https://doi.org/10.2139/ssrn.2334001","url":null,"abstract":"Electricity resource adequacy is the most urgent and controversial challenge facing the Electric Reliability Council of Texas (ERCOT) market. The policy discussions have neglected some very simple steps that could be taken to promote demand response and reduce peak demand. An allocation of some of the responsibility for non-spinning reserves based on the contribution of a load serving entity (LSE) to peak demand would encourage LSEs to undertake programs to reduce their contribution to the peak. An extension of the four coincident peak (4 CP) pricing used to charge large industrial energy consumers for transmission services to smaller commercial and residential loads would encourage smaller consumers to reduce their peak usage. Narrowing the definition of “peak demand” in the Public Utility Commission of Texas (PUCT) energy efficiency rules would encourage energy efficiency measures better focused on peak demand reduction.","PeriodicalId":126680,"journal":{"name":"SRPN: Product Demand Issues (Topic)","volume":"29 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-09-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125085216","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Large disparities between willingness to pay (WTP) and willingness-to-accept (WTA) are commonly encountered in empirical studies and raise some important controversies. Nevertheless, the relationships between WTA and WTP can help understand not only how a service is valued but also how it can be substituted or how its loss can be resisted. The purpose of this study was to examine cancer patients' preferences for blood transfusion setting from the perspective of WTA and WTP. A contingent valuation (CV) survey was administered to 139 patients receiving transfusions either at home or in the hospital. While few patients (6%) gave WTP protest responses, the WTA approach generated more protest responses (18%). The WTA-WTP discrepancy was confirmed. One in four of the patients reported that no amount was deemed sufficient to compensate for the renunciation of their home BT management. The main determinants of WTP were significantly different from WTA predictors. Our results suggest that individuals' strategies towards constructing WTP and WTA differ in terms of determinants, reasoning, use of information and economic rationality. They give empirical evidence on the usefulness to elicit both WTP and WTA responses in healthsurveys to help understand the economic evaluation of health technology assessment and care organization.
{"title":"The Information Content of the WTP-WTA Gap: An Empirical Analysis Among Severely Ill Patients","authors":"N. Havet, M. Morelle, Alexis Penot, R. Remonnay","doi":"10.2139/ssrn.2060841","DOIUrl":"https://doi.org/10.2139/ssrn.2060841","url":null,"abstract":"Large disparities between willingness to pay (WTP) and willingness-to-accept (WTA) are commonly encountered in empirical studies and raise some important controversies. Nevertheless, the relationships between WTA and WTP can help understand not only how a service is valued but also how it can be substituted or how its loss can be resisted. The purpose of this study was to examine cancer patients' preferences for blood transfusion setting from the perspective of WTA and WTP. A contingent valuation (CV) survey was administered to 139 patients receiving transfusions either at home or in the hospital. While few patients (6%) gave WTP protest responses, the WTA approach generated more protest responses (18%). The WTA-WTP discrepancy was confirmed. One in four of the patients reported that no amount was deemed sufficient to compensate for the renunciation of their home BT management. The main determinants of WTP were significantly different from WTA predictors. Our results suggest that individuals' strategies towards constructing WTP and WTA differ in terms of determinants, reasoning, use of information and economic rationality. They give empirical evidence on the usefulness to elicit both WTP and WTA responses in healthsurveys to help understand the economic evaluation of health technology assessment and care organization.","PeriodicalId":126680,"journal":{"name":"SRPN: Product Demand Issues (Topic)","volume":"9 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121957427","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In many economics textbooks, butter and margarine are given as an example of close substitute goods. Indeed, margarine was developed originally as a substitute for butter, and for long time margarine was perceived as being such a close substitute for butter that dairy industries in various countries pushed for the enactment of laws to restrict or prohibit the sale of margarine. However, as margarine has developed into a product in its own right, and has been promoted as a low fat and healthy food, and customers have gradually become more health conscious over time, are they still close substitutes? We test this question using a range of quantitative techniques, such as price correlation, co-integration, and demand analysis, applied to weekly supermarket scanner data on the sales volumes and prices of butter, margarine, and butter blend, for the period 2003 to 2005, in New Zealand. The results suggest that butter and margarine may not be close substitutes after all, and that textbook authors may need to find new examples of close substitutes for their economics textbooks.
{"title":"Are Butter and Margarine Close Substitutes? New Evidence From New Zealand","authors":"Q. Yang, M. Pickford","doi":"10.2139/ssrn.3683322","DOIUrl":"https://doi.org/10.2139/ssrn.3683322","url":null,"abstract":"In many economics textbooks, butter and margarine are given as an example of close substitute goods. Indeed, margarine was developed originally as a substitute for butter, and for long time margarine was perceived as being such a close substitute for butter that dairy industries in various countries pushed for the enactment of laws to restrict or prohibit the sale of margarine. However, as margarine has developed into a product in its own right, and has been promoted as a low fat and healthy food, and customers have gradually become more health conscious over time, are they still close substitutes? We test this question using a range of quantitative techniques, such as price correlation, co-integration, and demand analysis, applied to weekly supermarket scanner data on the sales volumes and prices of butter, margarine, and butter blend, for the period 2003 to 2005, in New Zealand. The results suggest that butter and margarine may not be close substitutes after all, and that textbook authors may need to find new examples of close substitutes for their economics textbooks.","PeriodicalId":126680,"journal":{"name":"SRPN: Product Demand Issues (Topic)","volume":"42 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-08-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124385714","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Demand response (or demand-side response) involves temporary changes in electricity consumption, typically in response to price signals or other financial incentives, or in reaction to grid conditions, is expected to cost-effectively contribute to the much needed power system flexibility, and help improve the efficiency of generation of transmission networks. While demand response has gained traction among diverse stakeholders in the electricity industry in some countries, widespread uptake of demand response, especially by consumers and load aggregators, remains slow due to uncertainties and various types of barriers, whether economic, technological, social or regulatory. Adopting a risk governance approach to demand response deployment would be useful to unlock certain barriers and assess to what extent demand response can reliably contribute to power system flexibility.
{"title":"Demand-Side Flexibility for Energy Transitions: Ensuring the Competitive Development of Demand Response Options","authors":"Anjali Nursimulu","doi":"10.2139/ssrn.2831905","DOIUrl":"https://doi.org/10.2139/ssrn.2831905","url":null,"abstract":"Demand response (or demand-side response) involves temporary changes in electricity consumption, typically in response to price signals or other financial incentives, or in reaction to grid conditions, is expected to cost-effectively contribute to the much needed power system flexibility, and help improve the efficiency of generation of transmission networks. While demand response has gained traction among diverse stakeholders in the electricity industry in some countries, widespread uptake of demand response, especially by consumers and load aggregators, remains slow due to uncertainties and various types of barriers, whether economic, technological, social or regulatory. Adopting a risk governance approach to demand response deployment would be useful to unlock certain barriers and assess to what extent demand response can reliably contribute to power system flexibility.","PeriodicalId":126680,"journal":{"name":"SRPN: Product Demand Issues (Topic)","volume":"22 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129169154","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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