Switching Energy Suppliers: It’s Not All About the Money

Deller, David, Giulietti, Monica, Loomes, Graham, Waddams Price, Catherine, Moniche Bermejo, Ana and Jeon, Joo Young (2017) Switching Energy Suppliers: It’s Not All About the Money.

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Abstract

Liberalised retail energy markets present an apparent puzzle: when offered the chance to buy a homogeneous product at a lower price, many consumers appear to leave ‘money on the table’. We observe the decisions made by over 7,000 consumers in a collective switching exercise and find that seemingly suboptimal consumer behaviour may be understood better if a sufficiently rich range of non-monetary ‘switching costs’ are identified. We discuss some policy implications for the expectations of consumer response in designing and regulating markets.

Item Type: Article
Faculty \ School: Faculty of Social Sciences > Norwich Business School
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Depositing User: Pure Connector
Date Deposited: 26 Aug 2017 06:09
Last Modified: 22 Nov 2018 00:51
URI: https://ueaeprints.uea.ac.uk/id/eprint/64687
DOI:

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