On Factors of Consumer Heterogeneity in (Mis)Valuation of Future Energy Costs: Evidence for the German Automobile Market

Vlada Pleshcheva, Daniel Klapper and Till Dannewald
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Vlada Pleshcheva: HU Berlin
Daniel Klapper: HU Berlin
Till Dannewald: Wiesbaden Business School

No 140, Rationality and Competition Discussion Paper Series from CRC TRR 190 Rationality and Competition

Abstract: In this paper, we first recover the individual valuation of expected future fuel costs at the time of a car purchase and then explore how various factors relate to the recovered consumer undervaluation of fuel savings (on average, consumers\' willingness-to-pay for a €1 reduction in fuel costs is below €0.20).

Keywords: energy-efficiency paradox; hedonic discrete choice model; vehicle purchase; willingness-to-pay (search for similar items in EconPapers)
JEL-codes: D12 D90 M31 Q51 (search for similar items in EconPapers)
Date: 2019-02-27
New Economics Papers: this item is included in nep-cbe, nep-exp and nep-hrm
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Persistent link: https://EconPapers.repec.org/RePEc:rco:dpaper:140

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