Fraunhofer-Gesellschaft

Publica

Hier finden Sie wissenschaftliche Publikationen aus den Fraunhofer-Instituten.

A large-scale test of the effects of time discounting, risk aversion, loss aversion and present bias on household adoption of energy efficient technologies

 
: Schleich, Joachim; Gassmann, Xavier; Meissner, Thomas
: Faure, Corinne

:
Fulltext urn:nbn:de:0011-n-4915289 (84 KByte PDF) - Die Publikation wurde zurückgezogen und durch eine neue Version ersetzt.
MD5 Fingerprint: 861926eedcd139e5340fad426727ce42
Created on: 27.4.2018

Fulltext urn:nbn:de:0011-n-491528-15 (513 KByte PDF)
MD5 Fingerprint: 0bbdd03a92175a1afdc5ba60d12cef6d
Created on: 13.3.2019


Karlsruhe: Fraunhofer ISI, 2018, 38 pp.
Working Paper Sustainability and Innovation, No. S 04/2018
English
Report, Electronic Publication
Fraunhofer ISI ()
risk aversion; time discounting; present bias; loss aversion; energy efficiency; adoption

Abstract
This paper empirically and jointly analyses the relations between risk aversion, standard time discounting, present bias, and loss aversion and household stated adoption of low to high stake energy efficiency technologies (EETs) (light emitting diodes (LEDs), energy efficient appliances, and retrofit measures). The analysis relies on a large representative sample drawn from eight European Union countries. Preferences over time, risk and losses were elicited and jointly estimated from participant choices in incentivized, context-free multiple price list experiments. The findings from econometrically estimating EET adoption equations suggest that present-biased individuals are less likely to adopt EETs. They also provide (weak) evidence that individuals which are more risk-averse, or more loss-averse, or which exhibit a lower discount factor are less likely to adopt EETs. Finally, omitting one or several of the time and risk or loss-aversion parameters when estimating the EET adoption equations did not appear to cause omitted variable bias.

: http://publica.fraunhofer.de/documents/N-491528.html