
241Energy Demand, Efficiency, and Conservation
rates of economic return. The corollary question of over-investment in ef-
ciency has not received much serious attention. Consumers are not assumed
to be half-witted if they buy hybrid cars, even though it can easily be dem-
onstrated that there is no economic justication for such an investment.
Interviews with consumers have repeatedly elucidated that noneconomic
factors weighing in heavily on the side of their chosen alternative. If they
sought to buy a small hybrid car, they are motivated by the need to signal
their care of the environment. If they bought a sports utility vehicle, they
are re ...