Cognitive reflection and the valuation of energy efficiency

dc.contributor.author	Andor, Mark A.
dc.contributor.author	Frondel, Manuel
dc.contributor.author	Gerster, Andreas
dc.contributor.author	Sommer, Stephan
dc.date.accessioned	2019-10-02T14:24:46Z
dc.date.available	2019-10-02T14:24:46Z
dc.date.issued	2019
dc.description.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.	en
dc.identifier.uri	http://hdl.handle.net/2003/38258
dc.identifier.uri	http://dx.doi.org/10.17877/DE290R-20228
dc.language.iso	en	de
dc.relation.ispartofseries	Discussion Paper / SFB823;24/2019
dc.subject	environmental certification	en
dc.subject	energy-using durables	en
dc.subject	decision heuristics	en
dc.subject.ddc	310
dc.subject.ddc	330
dc.subject.ddc	620
dc.title	Cognitive reflection and the valuation of energy efficiency	en
dc.type	Text	de
dc.type.publicationtype	workingPaper	de
dcterms.accessRights	open access
eldorado.secondarypublication	false	de

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