Chosen Energy Sufficiency: Preference Shocks and Behavioural Biases

Miquel Oliu-Barton, Aude Pommeret, Alice Robinet, Katheline Schubert and Mathilde Viennot
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Miquel Oliu-Barton: Université Paris Dauphine-PSL - PSL - Université Paris Sciences et Lettres, France Stratégie
Aude Pommeret: IREGE - Institut de Recherche en Gestion et en Economie - USMB [Université de Savoie] [Université de Chambéry] - Université Savoie Mont Blanc, France Stratégie
Alice Robinet: France Stratégie
Mathilde Viennot: France Stratégie

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Abstract: There is a lot of expectation surrounding energy sufficiency as part of the energy transition. It may result from an increase in energy prices, but it could also be a conscious choice. In this case, it would be the consequence of an adjustment in preferences or a reduction in behavioural biases. Changes in preferences can be modelled as an adjustment to the relative weights attributed by individuals to durable goods, energy or even non‑durable goods. Here, we show that the macroeconomic impacts differ largely based on the type of adjustment, which we can use to guide public policy decisions. This then leads to the question of how to bring these preference adjustments in practice. In addition to nudges to reduce behavioural biases, preference changes can stem from a collective organisation and better information, in particular regarding the co‑benefits of energy sufficiency.

Keywords: Energy sufficiency; Preferences; Nudges; Behavioural biases (search for similar items in EconPapers)
Date: 2024-09
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Published in Economie et Statistique / Economics and Statistics, 2024, 543, pp.21-37. ⟨10.24187/ecostat.2024.543.2117⟩

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Journal Article: Chosen Energy Sufficiency: Preference Shocks and Behavioural Biases (2024)
Working Paper: Chosen Energy Sufficiency: Preference Shocks and Behavioural Biases (2024)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-04814774

DOI: 10.24187/ecostat.2024.543.2117

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