skip to content
The induced innovation hypothesis and energy-saving technological change Preview this item
ClosePreview this item
Checking...

The induced innovation hypothesis and energy-saving technological change

Author: Richard G Newell; Adam B Jaffe; R N Stavins; National Bureau of Economic Research.
Publisher: Cambridge, MA : National Bureau of Economic Research, ©1998.
Series: Working paper series (National Bureau of Economic Research), working paper no. 6437.
Edition/Format:   eBook : Document : National government publication : EnglishView all editions and formats
Summary:
Abstract: It follows from Hicks' induced innovation hypothesis that rising energy prices in the last two decades should have induced energy-saving innovation. We formulate the hypothesis concretely using a product-characteristics model of energy-using consumer durables, augmenting Hicks' hypothesis to allow for the possibility that government efficiency standards also induce innovation. Through estimation of  Read more...
Rating:

(not yet rated) 0 with reviews - Be the first.

Subjects
More like this

Find a copy in the library

&AllPage.SpinnerRetrieving; Finding libraries that hold this item...

Details

Additional Physical Format: (OCoLC)38932049
Material Type: Document, Government publication, National government publication, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Richard G Newell; Adam B Jaffe; R N Stavins; National Bureau of Economic Research.
OCLC Number: 1085290888
Notes: "March 1998."
Reproduction Notes: Electronic reproduction. [S.l.] : HathiTrust Digital Library, 2011. MiAaHDL
Description: 44 pages : illustrations ; 22 cm.
Details: Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.
Series Title: Working paper series (National Bureau of Economic Research), working paper no. 6437.
Responsibility: Richard G. Newell, Adam B. Jaffe, Robert N. Stavins.

Abstract:

Abstract: It follows from Hicks' induced innovation hypothesis that rising energy prices in the last two decades should have induced energy-saving innovation. We formulate the hypothesis concretely using a product-characteristics model of energy-using consumer durables, augmenting Hicks' hypothesis to allow for the possibility that government efficiency standards also induce innovation. Through estimation of characteristics transformation surfaces, we find that technological change reduced the total capital and operating costs of air air conditioning by half and water heating by about one-fifth. Although the rate of overall innovation in these products appears to be independent of energy prices and regulations, the evidence suggests that the direction of innovation has been responsive to energy price changes. In particular, energy price increases induced innovation in a direction that lowered the capital cost tradeoffs inherent in producing more energy-efficiency products. In addition, energy price changes induced changes in the subset of technically feasible models that were offered for sale. Our estimates indicate that about one-quarter to one-half of the improvements in mean energy-efficiency of the menu of new models for these products over the last two decades were associated with rising energy prices since 1973. We also find that this responsiveness to price changes increased substantially after product labeling requirements came into effect, and that minimum efficiency standards had a significant positive effect on average efficiency levels. Nonetheless, a sizeable portion of efficiency improvements in these technologies appears to have been autonomous.

Reviews

User-contributed reviews
Retrieving GoodReads reviews...
Retrieving DOGObooks reviews...

Tags

Be the first.
Confirm this request

You may have already requested this item. Please select Ok if you would like to proceed with this request anyway.

Linked Data


Primary Entity

<http://www.worldcat.org/oclc/1085290888> # The induced innovation hypothesis and energy-saving technological change
    a schema:MediaObject, schema:Book, schema:CreativeWork ;
    library:oclcnum "1085290888" ;
    library:placeOfPublication <http://experiment.worldcat.org/entity/work/data/197674614#Place/cambridge_ma> ; # Cambridge, MA
    library:placeOfPublication <http://id.loc.gov/vocabulary/countries/mau> ;
    schema:about <http://dewey.info/class/330/> ;
    schema:about <http://experiment.worldcat.org/entity/work/data/197674614#Place/united_states> ; # United States.
    schema:about <http://experiment.worldcat.org/entity/work/data/197674614#Topic/energy_conservation_economic_aspects> ; # Energy conservation--Economic aspects
    schema:about <http://experiment.worldcat.org/entity/work/data/197674614#Topic/technological_innovations_economic_aspects> ; # Technological innovations--Economic aspects
    schema:about <http://experiment.worldcat.org/entity/work/data/197674614#Topic/economies_d_energie_aspect_economique_etats_unis> ; # Économies d'énergie--Aspect économique--États-Unis
    schema:about <http://experiment.worldcat.org/entity/work/data/197674614#Topic/household_appliances_electric_technological_innovations_united_states_econometric_models> ; # Household appliances, Electric--Technological innovations--United States--Econometric models
    schema:about <http://experiment.worldcat.org/entity/work/data/197674614#Topic/technological_innovations_economic_aspects_united_states> ; # Technological innovations--Economic aspects--United States
    schema:about <http://experiment.worldcat.org/entity/work/data/197674614#Topic/energy_conservation_economic_aspects_united_states> ; # Energy conservation--Economic aspects--United States
    schema:about <http://experiment.worldcat.org/entity/work/data/197674614#Topic/appareils_electromenagers_innovations_etats_unis_modeles_econometriques> ; # Appareils électroménagers--Innovations--États-Unis--Modèles économétriques
    schema:about <http://experiment.worldcat.org/entity/work/data/197674614#Topic/innovations_aspect_economique_etats_unis> ; # Innovations--Aspect économique--États-Unis
    schema:about <http://experiment.worldcat.org/entity/work/data/197674614#Topic/household_appliances_electric_labeling_economic_aspects_united_states> ; # Household appliances, Electric--Labeling--Economic aspects--United States
    schema:bookFormat schema:EBook ;
    schema:contributor <http://experiment.worldcat.org/entity/work/data/197674614#Person/stavins_r_n_robert_n_1948> ; # Robert N. Stavins
    schema:contributor <http://experiment.worldcat.org/entity/work/data/197674614#Organization/national_bureau_of_economic_research> ; # National Bureau of Economic Research.
    schema:contributor <http://experiment.worldcat.org/entity/work/data/197674614#Person/jaffe_adam_b> ; # Adam B. Jaffe
    schema:copyrightYear "1998" ;
    schema:creator <http://experiment.worldcat.org/entity/work/data/197674614#Person/newell_richard_g_1965> ; # Richard G. Newell
    schema:datePublished "1998" ;
    schema:description "Abstract: It follows from Hicks' induced innovation hypothesis that rising energy prices in the last two decades should have induced energy-saving innovation. We formulate the hypothesis concretely using a product-characteristics model of energy-using consumer durables, augmenting Hicks' hypothesis to allow for the possibility that government efficiency standards also induce innovation. Through estimation of characteristics transformation surfaces, we find that technological change reduced the total capital and operating costs of air air conditioning by half and water heating by about one-fifth. Although the rate of overall innovation in these products appears to be independent of energy prices and regulations, the evidence suggests that the direction of innovation has been responsive to energy price changes. In particular, energy price increases induced innovation in a direction that lowered the capital cost tradeoffs inherent in producing more energy-efficiency products. In addition, energy price changes induced changes in the subset of technically feasible models that were offered for sale. Our estimates indicate that about one-quarter to one-half of the improvements in mean energy-efficiency of the menu of new models for these products over the last two decades were associated with rising energy prices since 1973. We also find that this responsiveness to price changes increased substantially after product labeling requirements came into effect, and that minimum efficiency standards had a significant positive effect on average efficiency levels. Nonetheless, a sizeable portion of efficiency improvements in these technologies appears to have been autonomous."@en ;
    schema:exampleOfWork <http://worldcat.org/entity/work/id/197674614> ;
    schema:genre "Government publication"@en ;
    schema:genre "National government publication"@en ;
    schema:inLanguage "en" ;
    schema:isPartOf <http://experiment.worldcat.org/entity/work/data/197674614#Series/nber_working_paper_series> ; # NBER working paper series ;
    schema:isPartOf <http://experiment.worldcat.org/entity/work/data/197674614#Series/working_paper_series_national_bureau_of_economic_research> ; # Working paper series (National Bureau of Economic Research) ;
    schema:isSimilarTo <http://www.worldcat.org/oclc/38932049> ;
    schema:name "The induced innovation hypothesis and energy-saving technological change"@en ;
    schema:productID "1085290888" ;
    schema:publication <http://www.worldcat.org/title/-/oclc/1085290888#PublicationEvent/cambridge_ma_national_bureau_of_economic_research_1998> ;
    schema:publisher <http://experiment.worldcat.org/entity/work/data/197674614#Agent/national_bureau_of_economic_research> ; # National Bureau of Economic Research
    schema:url <http://www.library.yorku.ca/e/resolver/id/1969036> ;
    schema:url <http://papers.nber.org/papers/w6437> ;
    schema:url <http://papers.nber.org/> ;
    schema:url <http://catalog.hathitrust.org/api/volumes/oclc/38932049.html> ;
    wdrs:describedby <http://www.worldcat.org/title/-/oclc/1085290888> ;
    .


Related Entities

<http://experiment.worldcat.org/entity/work/data/197674614#Agent/national_bureau_of_economic_research> # National Bureau of Economic Research
    a bgn:Agent ;
    schema:name "National Bureau of Economic Research" ;
    .

<http://experiment.worldcat.org/entity/work/data/197674614#Organization/national_bureau_of_economic_research> # National Bureau of Economic Research.
    a schema:Organization ;
    schema:name "National Bureau of Economic Research." ;
    .

<http://experiment.worldcat.org/entity/work/data/197674614#Person/jaffe_adam_b> # Adam B. Jaffe
    a schema:Person ;
    schema:familyName "Jaffe" ;
    schema:givenName "Adam B." ;
    schema:name "Adam B. Jaffe" ;
    .

<http://experiment.worldcat.org/entity/work/data/197674614#Person/newell_richard_g_1965> # Richard G. Newell
    a schema:Person ;
    schema:birthDate "1965" ;
    schema:familyName "Newell" ;
    schema:givenName "Richard G." ;
    schema:name "Richard G. Newell" ;
    .

<http://experiment.worldcat.org/entity/work/data/197674614#Person/stavins_r_n_robert_n_1948> # Robert N. Stavins
    a schema:Person ;
    schema:birthDate "1948" ;
    schema:familyName "Stavins" ;
    schema:givenName "Robert N." ;
    schema:givenName "R. N." ;
    schema:name "Robert N. Stavins" ;
    .

<http://experiment.worldcat.org/entity/work/data/197674614#Place/cambridge_ma> # Cambridge, MA
    a schema:Place ;
    schema:name "Cambridge, MA" ;
    .

<http://experiment.worldcat.org/entity/work/data/197674614#Place/united_states> # United States.
    a schema:Place ;
    schema:name "United States." ;
    .

<http://experiment.worldcat.org/entity/work/data/197674614#Series/nber_working_paper_series> # NBER working paper series ;
    a bgn:PublicationSeries ;
    schema:hasPart <http://www.worldcat.org/oclc/1085290888> ; # The induced innovation hypothesis and energy-saving technological change
    schema:name "NBER working paper series ;" ;
    .

<http://experiment.worldcat.org/entity/work/data/197674614#Series/working_paper_series_national_bureau_of_economic_research> # Working paper series (National Bureau of Economic Research) ;
    a bgn:PublicationSeries ;
    schema:hasPart <http://www.worldcat.org/oclc/1085290888> ; # The induced innovation hypothesis and energy-saving technological change
    schema:name "Working paper series (National Bureau of Economic Research) ;" ;
    .

<http://experiment.worldcat.org/entity/work/data/197674614#Topic/appareils_electromenagers_innovations_etats_unis_modeles_econometriques> # Appareils électroménagers--Innovations--États-Unis--Modèles économétriques
    a schema:Intangible ;
    schema:name "Appareils électroménagers--Innovations--États-Unis--Modèles économétriques"@en ;
    .

<http://experiment.worldcat.org/entity/work/data/197674614#Topic/economies_d_energie_aspect_economique_etats_unis> # Économies d'énergie--Aspect économique--États-Unis
    a schema:Intangible ;
    schema:name "Économies d'énergie--Aspect économique--États-Unis"@en ;
    .

<http://experiment.worldcat.org/entity/work/data/197674614#Topic/energy_conservation_economic_aspects> # Energy conservation--Economic aspects
    a schema:Intangible ;
    schema:name "Energy conservation--Economic aspects"@en ;
    .

<http://experiment.worldcat.org/entity/work/data/197674614#Topic/energy_conservation_economic_aspects_united_states> # Energy conservation--Economic aspects--United States
    a schema:Intangible ;
    schema:name "Energy conservation--Economic aspects--United States"@en ;
    .

<http://experiment.worldcat.org/entity/work/data/197674614#Topic/household_appliances_electric_labeling_economic_aspects_united_states> # Household appliances, Electric--Labeling--Economic aspects--United States
    a schema:Intangible ;
    schema:name "Household appliances, Electric--Labeling--Economic aspects--United States"@en ;
    .

<http://experiment.worldcat.org/entity/work/data/197674614#Topic/household_appliances_electric_technological_innovations_united_states_econometric_models> # Household appliances, Electric--Technological innovations--United States--Econometric models
    a schema:Intangible ;
    schema:name "Household appliances, Electric--Technological innovations--United States--Econometric models"@en ;
    .

<http://experiment.worldcat.org/entity/work/data/197674614#Topic/innovations_aspect_economique_etats_unis> # Innovations--Aspect économique--États-Unis
    a schema:Intangible ;
    schema:name "Innovations--Aspect économique--États-Unis"@en ;
    .

<http://experiment.worldcat.org/entity/work/data/197674614#Topic/technological_innovations_economic_aspects> # Technological innovations--Economic aspects
    a schema:Intangible ;
    schema:name "Technological innovations--Economic aspects"@en ;
    .

<http://experiment.worldcat.org/entity/work/data/197674614#Topic/technological_innovations_economic_aspects_united_states> # Technological innovations--Economic aspects--United States
    a schema:Intangible ;
    schema:name "Technological innovations--Economic aspects--United States"@en ;
    .

<http://www.worldcat.org/oclc/38932049>
    a schema:CreativeWork ;
    schema:isSimilarTo <http://www.worldcat.org/oclc/1085290888> ; # The induced innovation hypothesis and energy-saving technological change
    .


Content-negotiable representations

Close Window

Please sign in to WorldCat 

Don't have an account? You can easily create a free account.