Received microeconomic theory presumes rational consumers maximize utility over all commodity bundles. Recent analysis, however, suggests that a consumer's status quo may limit economic rationality; quot;biasquot; consumer decisions, and induce serious errors in survey-based valuations of public...

Unbundling the attributes of electricity service is increasingly being recognized as a promising approach for dealing with capacity shortages, cost recovery and specific customer needs. Chao and Wilson (1986) elucidate this approach using the example of priority service options, which allow for...

Energy analysts are often faced with the need to determine the value of electric service reliability in the absence of an explicit market for this service feature. One method for indirectly measuring consumers' valuation is called "contingent valuation" (CV). In service reliability applications,...