Authors: Andor, Mark A.
Frondel, Manuel
Gerster, Andreas
Sommer, Stephan
Title: Cognitive reflection and the valuation of energy efficiency
Language (ISO): en
Abstract: Based on a stated-choice experiment among about 3,600 German household heads on the purchase of electricity-using durables, this paper explores the impact of cognitive reflection on consumers’ valuation of energy efficiency, as well as its interaction with consumers’ response to the EU energy label. Using a standard cognitive reflection test, our results indicate that consumers with low cognitive reflection scores value energy efficiency less than those with high scores. Furthermore, we find that consumers with a low level of cognitive reflection respond more strongly to grade-like energy efficiency classes than to detailed information on annual energy use.
Subject Headings: environmental certification
energy-using durables
decision heuristics
Issue Date: 2019
Appears in Collections:Sonderforschungsbereich (SFB) 823

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