Der Wert von Versorgungssicherheit mit Strom: Evidenz für deutsche Haushalte

Manuel Frondel and Sommer Stephan ()
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Sommer Stephan: RWI – Leibniz-Institut für WirtschaftsforschungEssenGermany

Zeitschrift für Wirtschaftspolitik, 2017, vol. 66, issue 3, 294-317

Abstract: Based on a survey among more than 5,000 German household heads, this article investigates their willingness to pay (WTP) for avoiding power out-ages. Alternatively, we ask for their willingness to accept (WTA) compensations if power outages cannot be avoided. In perfect accord with numerous empirical studies, we find a WTA-WTP gap: WTA bids are, on average, substantially higher than WTP bids for avoiding an unexpected power outage of four hours. We believe that this discrepancy is based on the tendency that, for strategic reasons, respondents' WTA bids exceed actual values, whereas their WTP bids tend to be understated.

Keywords: willingness to pay; willingness to accept; stated preferences; Zahlungsbereitschaft; bekundete Präferenzen; Energiewende; willingness to pay; willingness to accept; stated preferences (search for similar items in EconPapers)
JEL-codes: D12 H41 Q41 (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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DOI: 10.1515/zfwp-2017-0015

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