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The Effects of Energy Prices Upon Appliance Efficiencies and Building Insulation

Energy economists have long recognized the fact that changes in energy prices can affect the demand for energy in several ways (e.g., see Fisher and Kaysen, 1962; Taylor, 1975). In the short run, energy users can change their utilization of a fixed appliance stock or a fixed set of capital equipment. In the long run, a user may change the makeup of his appliance stock by purchasing appliances he has never owned in the past, allowing certain appliances to retire unreplaced, and replacing worn-out devices with new ones of different operating efficiencies or of different fuel-using types. Recent works by economists have focused upon these various aspects of energy usage. (Prominent studies of short-run effects include Lawrence, 1982; George, 1982; Parti and Parti, 1980; and McFadden, Puig, and Kirshner, 1977.

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Energy Specializations: Energy Efficiency

JEL Codes:
Q55 - Environmental Economics: Technological Innovation

Keywords: Appliance efficiency, Energy prices, Energy conservation

DOI: 10.5547/ISSN0195-6574-EJ-Vol7-No3-9

Published in Volume 7, Number 3 of The Quarterly Journal of the IAEE's Energy Economics Education Foundation.