Impact of consumers' personal characteristics on hedonic prices of energy-conserving durables

Molly Longstreth

Energy, 1986, vol. 11, issue 9, 893-905

Abstract: Since the oil crisis of 1973, American consumers have made progress conserving energy, but the average home remains far short of its potential thermal efficiency. An incentive for investing in energy-conserving home improvements is the potential increment they make to the home sale price. Our purpose was to determine whether the addition that energy-conserving improvements made to home sale prices (hedonic price) varied with the demographic characteristics of the buyers. Nonpooled regression analysis was used to estimate the hedonic prices of the housing attributes for each group of consumers. The focus was on wall and ceiling insulation, as well as wood or vinyl window frames. The hedonic prices of these features tended to vary with consumers' ages, levels of education and per capita incomes, but not with household size.

Date: 1986
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Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:11:y:1986:i:9:p:893-905

DOI: 10.1016/0360-5442(86)90009-5

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