Mandatory disclosure policies are implemented broadly despite sparse evidence that they improve market outcomes. The paper studies the effects of requiring home sellers to provide buyers with certified audits of residential energy efficiency. Using similar nearby homes as a comparison group, the authors find this requirement increases price premiums for energy efficiency and encourages energy-saving investments. They additionally present evidence highlighting the market failure – incomplete information by both buyers and sellers – that prevents widespread voluntary disclosure of energy efficiency in housing transactions. Their findings support that disclosure policies can improve market outcomes in settings with symmetrically incomplete information.

Speaker

Erica Myers

University of Illinois at Urbana-Champaign, USA

Environmental, energy, and ecological problems have grown faster than their solutions. Economists have an important role to play to address these issues by using the latest science, rigorous methods and innovative policy solutions. The SWEEEP webinar series aims to convene the academic community to contribute to the scientific, economic, and policy discourses on important environmental and energy issues.

The seminar presentations are scheduled to last 60 minutes, with questions at the end.

The European Institute on Economics and the Environment is a partnership between Resources for the Future and Foundation CMCC. EIEE’s impartial economic and environmental research aims to facilitate the transition to a sustainable, inclusive society.
Contact: Professor Massimo Tavoni

The Energy Management research team at the Grenoble Ecole de Management (GEM) combines research on economics, strategic management, technology innovation and energy policy in order to create and share knowledge that will help society move towards a low-carbon future.
Contact: Professor Sébastien Houde

The ZEW – Leibniz Centre for European Economic Research is a leading German economic policy institute and a member of the Leibniz Association. ZEW's applied research aims to study and help design well-performing markets and institutions in Europe. In particular, it seeks to understand how to create a market framework that will enable the sustainable and efficient development of European economies.
Contact: Professor Sebastian Rausch

The Centre for Energy Policy and Economics (CEPE) was established in 1999 to complement the natural science and technical-oriented disciplines at ETH Zurich, by contributing to research and teaching in energy policy and economics.  Through rigorous application of modern empirical methods, the goal of CEPE is to make critical contributions to the design and evaluation of energy and climate policy instruments.
Contact: Professor Massimo Filippini

Date

28.10.2020 | 15:00 - 16:00

Event Location

Online via ZOOM