We present a hedonic framework to estimate U.S. households' preferences over local climates, using detailed weather and 2000 Census data. We find that Americans favor an average daily temperature of 65 degrees Fahrenheit, will pay more on the margin to avoid excess heat than cold, and are not...

Several countries are considering using daylight saving time (DST) as a tool for energy conservation and reduction of greenhouse gas emissions, and the United States extended DST in 2007 with the goal of reducing electricity consumption. This paper assesses DST's impact on electricity demand by...

It is now plausible to envision scenarios in which global demand for crude oil falls to essentially zero by the end of this century, driven by improvements in clean energy technologies, adoption of stringent climate policies, or both. This paper asks what such a demand decline, when anticipated,...

"Despite widespread application of real options theory in the literature, the extent to which firms actually delay irreversible investments following an increase in the uncertainty of their environment is not empirically well-known. This paper estimates firms' responsiveness to changes in...

‘Value of Time’ (VOT) is a key parameter in economics and policy. This paper presents an alternative method to estimate VOT by analyzing an hourly dataset on drivers speeding behavior as a function of the gasoline price. Our identification strategy is novel as it is based on the intensive...