Thermostats have traditionally been simple machines, but they’ve been getting smarter. Nest, launched by two former lead developers at Apple, bills itself as a “next generation thermostat” that learns the schedule of a home’s occupants and programs itself accordingly—keeping a house cool when residents are likely waking up or coming home, and allowing temperatures to rise when people are sleeping, for example. Nest claims it can lower heating and cooling bills by up to 20 percent.
Two researchers, Chicago Booth Professor —Bruce Blythe
Daniel Adelman and Canan Uçkun, “Smart Homes with Price-Responsive Thermostats,” Working paper, June 2013.