Friday, September 23, 2011

Energy Switching: why the consumer inertia?

Inertia is a major feature of the policy literature in behavioural economics. The BBC cover this area in relation to energy consumers. (via @davdittrich on twitter)

We're more likely to get divorced than move bank accounts. Four-fifths of people cannot be bothered to look for cheaper gas or electric bills despite the urging of numerous consumer gurus to switch.

In short we'd rather pay hundreds of pounds a year extra on phone, broadband and utility bills rather than have to enter the mind-numbing world of the price comparison websites.

No comments: