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| DOI | 10.1016/j.enpol.2021.112407 |
| Estimating the implicit discount rate for new technology adoption of wood-burning stoves | |
| Carrasco-Garcés M.; Vásquez-Lavín F.; Ponce Oliva R.D.; Diaz Pincheira F.; Barrientos M. | |
| 发表日期 | 2021 |
| ISSN | 03014215 |
| 卷号 | 156 |
| 英文摘要 | In the last decade, there have been several initiatives to incentivize Efficient Energy Technologies (EET) to reduce air pollution caused by wood-burning in developing countries. More efficient woodstoves can improve health, reduce family expenditures, CO2 emissions, and forest degradation. Despite these benefits, there is low level of adoption of EETs. This paper contributed to the literature in three ways. First, it estimates the implicit discount rate (IDR) used by individuals to decide whether to adopt EET using exponential and hyperbolic specifications. Second, it includes sociodemographic characteristics in the definition of the IDR. Third, it evaluates how the adoption curve changes by different policy designs. Since the interest rate is part of the policy design, comparing the interest rate and the IDR is relevant to increasing adoption. Our monthly estimated IDR is between 1.7% and 5.4% with a significant overlap with market interest rate. The IDR is affected by the perception of the future economic situation, trust in environmental authorities, happiness, and gender. We found that using an interest rate lower than the IDR increases the probability of adoption significantly. An understanding of the effects of copayments, payment frequencies, and difference between interest rates and IDR is needed to maximize adoption. © 2021 Elsevier Ltd |
| 关键词 | Efficient energy technologiesEnergy regulationImplicit discount rateIntertemporal choiceStated preferences |
| 英文关键词 | Developing countries; Energy policy; Efficient energy technologies; Energy regulation; Implicit discount rate; Interest rates; Intertemporal choices; Policy design; Stated preferences; Technology adoption; Wood burning; Energy efficiency; biomass power; cooking appliance; developing world; energy efficiency; energy policy; environmental economics; estimation method; financial system; fuelwood; interest rate; technological development; technology adoption |
| 语种 | 英语 |
| 来源期刊 | Energy Policy
 |
| 文献类型 | 期刊论文 |
| 条目标识符 | http://gcip.llas.ac.cn/handle/2XKMVOVA/205036 |
| 作者单位 | Departamento de Gestión Empresarial, Universidad de Concepción, Los Ángeles, Chile; School of Economics and Business, Universidad Del Desarrollo, Concepción, Chile; Center of Applied Ecology and Sustainability (CAPES), ANID PIA/BASAL FB0002, Pontificia Universidad Católica de Chile, Santiago, Chile; Center for Climate Change and Resilience (CR2), Chile; Department of Economics, Universidad de Concepción,Chile, Chile |
| 推荐引用方式 GB/T 7714 | Carrasco-Garcés M.,Vásquez-Lavín F.,Ponce Oliva R.D.,et al. Estimating the implicit discount rate for new technology adoption of wood-burning stoves[J],2021,156. |
| APA | Carrasco-Garcés M.,Vásquez-Lavín F.,Ponce Oliva R.D.,Diaz Pincheira F.,&Barrientos M..(2021).Estimating the implicit discount rate for new technology adoption of wood-burning stoves.Energy Policy,156. |
| MLA | Carrasco-Garcés M.,et al."Estimating the implicit discount rate for new technology adoption of wood-burning stoves".Energy Policy 156(2021). |
| 条目包含的文件 | 条目无相关文件。 | |||||
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