Conference Agenda
Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).
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Daily Overview |
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Electricity Demand and Dynamic Pricing Location: B127 Session Chair: Baptiste Rigaux, Gent Universiteit | |
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Who provides electricity data? Field experimental evidence on information provision, willingness to accept, and selection 1: University of California, Davis; 2: National Institute of Advanced Industrial Science and Technology; 3: Kyoto University of Advanced Science Large-scale high-frequency data on residential electricity consumption offer substantial opportunities for firms and researchers. Such data support the development of innovative technologies that benefit both the supply and demand sides of electricity markets and enable the identification of key parameters underlying consumers' economic preferences. We study consumers' decisions about providing their electricity consumption data to third parties. We design a survey to elicit consumers’ choices and their willingness to accept (WTA) compensation for providing electricity data in an actual data transaction. To reveal how consumers are responsive to information about the benefits of sharing electricity consumption data, over 20,000 survey participants are randomly assigned to treatments that vary in the information provided. The results show that these information treatments discourage data sharing, suggesting that the information provided encourages consumers to retain control over their electricity data. However, the treatments do not significantly affect the distribution of elicited WTA among those who agree to provide their data. We reveal substantial selection effects in data provision by comparing attributes, such as risk preferences and peak electricity consumption, between participants who agree to provide their data, either with or without monetary compensation, and those who decline. Our findings underscore the importance for policymakers of understanding consumers' incentives to share electricity consumption data and of carefully applying results from previous studies that rely on such data. | |