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on Discrete Choice Models |
| By: | Fabianek, Paul (E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN)); Atasoy, Ayse Tugba (E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN)); Madlener, Reinhard (E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN)) |
| Abstract: | Congestion at charging stations during peak hours limits their optimal utilization hindering the adoption of e vehicles by restricting user mobility. This study examines how dynamic pricing schemes can incentivize users to modify their charging behavior and alleviate charging station congestion. Through a survey-based experiment, we quantified users’ willingness to pay across different pricing schemes with variations in time, location, and duration. Results demonstrate that average price reductions required for demand shifting were: 23.9% to change charging time (day to night), 24.1% to change location (by 1 km), and 29.7% to accept a prolongation of charging duration (by 100%). Responsiveness to dynamic pricing varied based on e-vehicle driving experience, mobility patterns, and socio-demographic characteristics. Our findings indicate that sufficient financial incentives can effectively reduce charging station congestion. We recommend policymakers to establish regulatory frameworks for dynamic pricing for electric vehicle charging and further investigate the effectiveness of various pricing schemes. |
| Keywords: | Dynamic Electricity Pricing; Demand Response; Charging Infrastructure; Flexible Charging; Consumer Preferences; Sustainable Mobility; Germany |
| JEL: | C99 D12 |
| Date: | 2025–01–01 |
| URL: | https://d.repec.org/n?u=RePEc:ris:fcnwpa:2025_001 |
| By: | Beatrice Bertelli (University of Modena and Reggio Emilia); Marianna Brunetti (CEIS & DEF, University of Rome "Tor Vergata", GLO and Cefin); Costanza Torricelli (University of Modena and Reggio Emilia, CEFIN and CeRP); Mariangela Zoli (CEIS & DEF, University of Rome "Tor Vergata" and SEEDS) |
| Abstract: | This paper addresses two main research questions in sustainable finance: what is the household willingness to pay for sustainable investments? Can households be stimulated in this connection by means of visual nudges? To this end we ran a pilot lab-in-the-field experiment in October-November 2024 in different branches of a large Italian bank. Three are the main results. First, the willingness to pay is lower for graduated individuals, but higher for those with an investment horizon between 1 and 5 years, and among those engaged in volunteering and concerned about climate change. Second, the exposure to a negative visual treatment, by contrast to a positive one, causes an average increase in the willingness to pay for Environmental, Social, and Governance assets, albeit this effect vanishes once the model is augmented with control variables. Third, when dissecting results by the factor of interest, the negative visual treatment significantly increases the willingness to pay among the investors interested in the Environmental dimension only. This suggests that, with a suitable leverage, the demand and willingness to pay for all sustainability dimensions can be nudged, with important industry and policy implications. |
| Keywords: | Sustainable finance; household financial choices; willingness to pay;visual nudges; lab-in-the field experiment |
| JEL: | D14 G11 M30 |
| Date: | 2025–05–30 |
| URL: | https://d.repec.org/n?u=RePEc:rtv:ceisrp:600 |
| By: | Aidan Coville (World Bank); Joshua Graff Zivin (UC San Diego - University of California [San Diego] - UC - University of California, NBER - The National Bureau of Economic Research); Arndt Reichert (Leibniz Universität Hannover=Leibniz University Hannover, World Bank); Ann-Kristin Reitmann (CREM - Centre de recherche en économie et management - UNICAEN - Université de Caen Normandie - NU - Normandie Université - UR - Université de Rennes - CNRS - Centre National de la Recherche Scientifique, Universität Passau [Passau]) |
| Abstract: | Solar technologies have been associated with private and social returns, but their technological potential often remains unachieved because of persistently low demand for high-quality products. In a randomized field experiment in Senegal, we assess the potential of three types of quality signaling to increase demand for highquality solar lamps. We find no effect on demand when consumers are offered a money-back guarantee but increased demand with a third-party certification or warranty, consistent with the notion that consumers are uncertain about product durability rather than their utility. However, despite the higher willingness to pay, the prices they would pay are still well below market prices for the average household, suggesting that reducing information asymmetries alone is insufficient to encourage wider adoption. Surprisingly, we also find that the effective quality signals in our setting stimulate demand for low-quality products by creating product-class effects among those least familiar with the product. |
| Keywords: | Information asymmetries, Quality signaling, Solar lamps, Willingness to pay, Becker-DeGroot-Marschak, Technology adoption |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05057994 |
| By: | Voraprapa Nakavachara; Chanon Thongtai; Thanarat Chalidabhongse; Chanathip Pharino |
| Abstract: | This study examines how consumer attitudes toward animal welfare influence food selection and pricing using real-world market data from a Swiss supermarket. Our findings indicate that higher animal welfare standards are consistently associated with higher prices, suggesting that ethical considerations play a significant role in generating price premiums based on consumer preferences. On average, a one-point increase in the animal welfare score (ranging from 1 to 5, with 5 being the highest) corresponds to a 16.4% price increase, with the effect being most pronounced in Dairy & Eggs (25.3%), compared to Meat & Fish (14.3%). These results highlight the psychological and behavioral factors underlying consumer preferences for ethically produced foods. Additionally, we find limited evidence of a price premium for climate-friendly food products, observed only in Yogurts & Desserts, a subcategory within Dairy & Eggs. Our findings contribute to the understanding of how ethical food attributes influence consumer decision-making and pricing in retail settings. |
| Date: | 2025–05 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2505.04042 |
| By: | François-Charles Wolff (LEMNA - Laboratoire d'économie et de management de Nantes Atlantique - Nantes Univ - IAE Nantes - Nantes Université - Institut d'Administration des Entreprises - Nantes - Nantes Université - pôle Sociétés - Nantes Univ - Nantes Université); Pierre-Alexandre Mahieu (LEMNA - Laboratoire d'économie et de management de Nantes Atlantique - Nantes Univ - IAE Nantes - Nantes Université - Institut d'Administration des Entreprises - Nantes - Nantes Université - pôle Sociétés - Nantes Univ - Nantes Université); Brice Trouillet (LETG - Nantes - Littoral, Environnement, Télédétection, Géomatique - UBO - Université de Brest - UR2 - Université de Rennes 2 - CNRS - Centre National de la Recherche Scientifique - LETG - Littoral, Environnement, Télédétection, Géomatique UMR 6554 - UBO - Université de Brest - UR2 - Université de Rennes 2 - CNRS - Centre National de la Recherche Scientifique - Nantes Univ - IGARUN - Institut de Géographie et d'Aménagement Régional de l'Université de Nantes - Nantes Université - pôle Humanités - Nantes Univ - Nantes Université); Alexia Pigeault (LETG - Nantes - Littoral, Environnement, Télédétection, Géomatique - UBO - Université de Brest - UR2 - Université de Rennes 2 - CNRS - Centre National de la Recherche Scientifique - LETG - Littoral, Environnement, Télédétection, Géomatique UMR 6554 - UBO - Université de Brest - UR2 - Université de Rennes 2 - CNRS - Centre National de la Recherche Scientifique - Nantes Univ - IGARUN - Institut de Géographie et d'Aménagement Régional de l'Université de Nantes - Nantes Université - pôle Humanités - Nantes Univ - Nantes Université, CAPACITÉS SAS - Nantes Univ - Nantes Université); Nicolas Rollo (LETG - Nantes - Littoral, Environnement, Télédétection, Géomatique - UBO - Université de Brest - UR2 - Université de Rennes 2 - CNRS - Centre National de la Recherche Scientifique - LETG - Littoral, Environnement, Télédétection, Géomatique UMR 6554 - UBO - Université de Brest - UR2 - Université de Rennes 2 - CNRS - Centre National de la Recherche Scientifique - Nantes Univ - IGARUN - Institut de Géographie et d'Aménagement Régional de l'Université de Nantes - Nantes Université - pôle Humanités - Nantes Univ - Nantes Université) |
| Abstract: | To achieve its renewable energy production targets, France is aiming to create 50 new offshore wind farms by 2050. In line with the debate on maritime planning organised by the Commission nationale du débat public, (CNDP – French National Commission for Public Debate), a mixed survey combining economics and geography was conducted to study the spatial preferences of French households in terms of the location of these future offshore wind farms. The results of this discrete choice experiment show that respondents prefer the offshore wind farms to be located far from the coasts without overlapping with marine protected areas or fishing grounds, and are opposed to wind farms that have an insufficiently local link to the land. Support for the project, consisting of 50 offshore wind farms, however, remains mixed, with almost 30% of respondents opposed. Nevertheless, the level of support for the project does not change people's preferences in terms of the location of the offshore wind farms. |
| Abstract: | La France a des objectifs ambitieux pour augmenter la part d'énergies renouvelables dans sa consommation d'énergie, notamment en ce qui concerne le développement de l'éolien offshore. Une enquête réalisée en mars 2024 auprès de 2400 personnes, combinant la méthode des programmes et des classements d'attributs et de leurs modalités, révèle les préférences spatiales des Français à l'égard de cette technologie. Les répondants préfèrent que les parcs éoliens soient situés à une distance suffisante pour ne pas être visibles depuis les côtes et qu'ils n'interfèrent pas avec les espaces naturels protégés ou les zones de pêche. Ils s'opposent aux parcs ayant des liens éloignés avec le territoire et favorisent une concentration faible des installations, même si les préférences sont moins tranchées pour ce dernier attribut. Moins de la moitié des enquêtés se déclarent favorables à l'installation de 50 parcs éoliens offshore en France d'ici 2050, mais ce soutien modéré n'affecte pas les tendances générales pour les préférences spatiales. |
| Keywords: | Offshore wind farm, Spatial preference, Renewable energies, Discrete choice experiment DCE, Eoliennes en mer, Préférence spatiale, Energies renouvelables, Expérience de choix discret |
| Date: | 2025–04–23 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04615741 |
| By: | Enrico Mattia Salonia (Toulouse School of Economics) |
| Abstract: | Why are investors overconfident and trade excessively? Why do patients at health risk avoid testing? Why are voters polarised? Possibly because their beliefs directly influence their well-being, i.e., they have belief-dependent preferences. However, existing theories of belief-dependent preferences struggle to generate testable predictions or to identify simultaneously beliefs and preferences. This paper addresses these issues by providing an axiomatic characterization of a class of preferences and belief-updating rules that deviate from Bayesian updating. Preferences, beliefs, and updating rules are identified from choices over contingent menus, each entailing a menu of acts available at a later time contingent on an uncertain state of the world. The results provide a theory-based approach to experimental designs to test information avoidance, distortion, and other behaviours consistent with beliefdependent preferences. |
| Keywords: | Belief-dependent preferences, Non-Bayesian updating, Information avoidance, Belief distortion, Contingent menus |
| JEL: | D03 D81 D83 D91 |
| Date: | 2025–05–27 |
| URL: | https://d.repec.org/n?u=RePEc:rtv:ceisrp:599 |
| By: | Philipp Lergetporer; Thomas Rittmannsberger; Katharina Werner; Helen Zeidler |
| Abstract: | We study anchoring effects in the elicitation of multidimensional beliefs within a single survey task using a representative sample of the German voting-age population. Respondents estimated governmentspending levels across several domains (e.g., education, defense, social security), with randomized exposure to different informational anchors in one domain. Anchors significantly influence elicited beliefs in related domains and partially also shift respondents’ policy preferences. While the anchors change absolute estimates, perceived government-spending rankings remain stable. These findings offer methodological guidance for survey design involving multidimensional belief elicitation in informationprovision experiments. |
| Keywords: | anchoring, experiment, beliefs, survey, government spending |
| JEL: | D83 C83 C90 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_11912 |
| By: | Philipp Lergetporer (Technical University of Munich, TUM School of Management, Campus Heilbronn & ifo Institute); Thomas Rittmansberger (Technical University of Munich, TUM School of Management); Katharina Werner (Pforzheim University, CESifo & IZA); Helen Zeidler (Technical University of Munich, TUM School of Management, Campus Heilbronn) |
| Abstract: | We study anchoring effects in the elicitation of multidimensional beliefs within a single survey task using a representative sample of the German voting-age population. Respondents estimated governmentspending levels across several domains (e.g., education, defense, social security), with randomized exposure to different informational anchors in one domain. Anchors significantly influence elicited beliefs in related domains and partially also shift respondents’ policy preferences. While the anchors change absolute estimates, perceived government-spending rankings remain stable. These findings offer methodological guidance for survey design involving multidimensional belief elicitation in informationprovision experiments. |
| Keywords: | Anchoring, experiment, beliefs, survey, government spending |
| JEL: | D83 C83 C90 |
| Date: | 2025–06 |
| URL: | https://d.repec.org/n?u=RePEc:aiw:wpaper:42 |
| By: | Daniel J. Benjamin; Kristen B. Cooper; Ori Heffetz; Miles S. Kimball; Tushar Kundu |
| Abstract: | We elicited over a million stated preference choices over 126 dimensions or “aspects” of well-being from a sample of 3, 358 respondents on Amazon’s Mechanical Turk (MTurk). Our surveys also collected self-reported well-being (SWB) questions about respondents’ current levels of the aspects of well-being. From the stated preference data, we estimate relative log marginal utilities per point on our 0-100 response scale for each aspect. We validate these estimates by comparing them to alternative methods for estimating preferences. Our findings provide empirical evidence that both complements and challenges philosophical perspectives on human desires and values. Our results support Aristotelian notions of eudaimonia through family relationships and Maslow’s emphasis on basic security needs, yet also suggest that contemporary theories of well-being may overemphasize abstract concepts such as happiness and life satisfaction, while undervaluing concrete aspects such as family well-being, financial security, and health, that respondents place the highest marginal utilities on. We document substantial heterogeneity in preferences across respondents within (but not between) demographic groups, with current SWB levels explaining a significant portion of the variation. |
| JEL: | D12 D90 I31 |
| Date: | 2025–05 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:33846 |
| By: | Dejkam, Rahil (E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN)); Madlener, Reinhard (E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN)) |
| Abstract: | This study is about a techno-economic assessment of stand-alone, battery-buffered e-vehicle charging stations incorporating solar photovoltaic (PV) and wind turbine (WT) energy systems in four major German cities: Berlin, Cologne, Hamburg, and Munich. Using modeling and simulation techniques, the study evaluates optimal configurations to meet daily charging demands while considering urban environments and spatial heterogeneity in meteorological conditions. Results indicate that hybrid PV/WT/battery systems are the preferred choice for renewable energy charging stations in Berlin, Hamburg, and Munich as they are able to minimize net present cost (NPC) and levelized cost of electricity (LCOE) while meeting daily charging demand and environmental targets. In Cologne, in contrast, due to higher wind availability, WT/battery systems emerge as the most cost-effective option. Sensitivity analysis shows the impact of load and storage capacity on economic metrics such as NPC and LCOE, with NPC values ranging from €524, 836 to €1, 640, 000 across various load scenarios considered. The findings demonstrate the potential for enhancing economic feasibility via solar tracking systems, increased wind turbine hub heights, and offshore wind deployment. This study provides actionable insights for integrating renewable energy into EV charging infrastructure, thus contributing to Germany’s decarbonization and energy transition efforts. |
| Keywords: | Electric Vehicle; Stand-Alone Hybrid Charging Station; Hybrid Renewable Energy; Green Mobility; Techno-Economic Feasibility |
| JEL: | Q20 Q21 Q49 Q50 |
| Date: | 2023–10–01 |
| URL: | https://d.repec.org/n?u=RePEc:ris:fcnwpa:2023_013 |
| By: | Hoogland, Kelly PhD; Hardman, Scott PhD |
| Abstract: | Plug-in electric vehicles (PEVs), including both battery-electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) are crucial forreducing emissions and meeting sustainability targets, yet their adoption has been limited primarily to higher-income and new car buyers, leaving most low-income households without access. To help inform policies that will accelerate access to used BEVs in particular, this study explored car buying behavior, costs, and usage within and between groups defined by vehicle condition (new vs. used), fuel type(battery-electric vehicles [BEVs] vs. internal combustion engine vehicles [ICEVs], and income level. BEV owning, new-car buying, andhaving higher incomewere each associated with one another. On average the proportion of total income spent on vehicle-relatedexpenses is at least six times higher for householdswith incomes less than $75, 000 than householdswith incomes of $250, 000 or more. While BEVs offer savings in maintenance and fuel cost compared to ICEVs, the initial price for both new and used BEVs may need to be subsidized to alleviate cost burden for lower-income households. Used car buyers, ICEV owners, and lower-income householdspredominantly do not purchase or maintain their vehicles at automaker dealerships and tend to buy older vehicles withmore mileagethan would be covered by BEV warranties. These findings have implications for the current structure of financial incentives being limited to automaker dealerships. Other possible barriers to BEV uptake for lower-income households and used car buyers, include reliability concerns and limited home charging access. BEV adoption across all income groups could be increased by broadening eligibility for incentives, enhancing battery warranties, offering battery replacement rebates, and expanding home charging infrastructure. |
| Keywords: | Engineering, Plug-in hybrid vehicles, Electric vehicles, Automobile ownership, Operating costs, Subsidies, Electric vehicle charging |
| Date: | 2025–05–01 |
| URL: | https://d.repec.org/n?u=RePEc:cdl:itsdav:qt5nn570fd |