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
Uncontrolled Keywords:	sdg 12 - responsible consumption and production ,/dk/atira/pure/sustainabledevelopmentgoals/responsible_consumption_and_production
Faculty \ School:	Faculty of Social Sciences > Norwich Business School Faculty of Social Sciences > School of Economics
UEA Research Groups:	Faculty of Social Sciences > Research Centres > Centre for Competition Policy Faculty of Social Sciences > Research Groups > Responsible Business Regulation Group
Related URLs:	http://competitionpolicy.ac.uk/documents...
Depositing User:	Pure Connector
Date Deposited:	26 Aug 2017 05:09
Last Modified:	24 Sep 2024 07:32
URI:	https://ueaeprints.uea.ac.uk/id/eprint/64687
DOI:

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