Variable

Classification

Expected sign

Mean

Std dev

Min

Max

Current cost of electricity (ȼ)

Continuous

+/−

41.30

47.74

2

500

Initial bid

Continuous

+/−

0.26

0.16

0.25

0.30

Sex of respondent (male=1; female=0)

Dummy

+/−

0.611

0.487

0

1

Household Size

Continuous

+/−

6.15

4.84

1

45

Household Monthly Income (ȼ)

Continuous

+

1208.72

888.05

100

8000

Highest educational level attained (NEDU = 1; BEDU = 2; SEDU = 3; TEDU = 4)

Categorical

+

2.82

0.968

1

4

Reliability of current supply (reliable = 1; not reliable = 0)

Dummy

−

0.235

0.424

0

1

Prior notification given before outages (prior notice = 1; no prior notice = 0)

Dummy

−

0.093

0.290

0

1