Heterogeneous Preferences and Investments in Energy Saving Measures

Urs Fischbacher, Simeon Schudy and Sabrina Teyssier

No 95, TWI Research Paper Series from Thurgauer Wirtschaftsinstitut, Universität Konstanz

Abstract: We investigate whether risk, time, environmental, and social preferences affect single family homeowners’ investments in energy efficient renovations and energy quality of their house using established experimental measures and questionnaires. We find that homeowners who report to be more risk taking are more likely to have renovated their house. Pro-environmental and future-oriented renovators, i.e. renovators with lower discount factors, live in homes with higher energy efficiency. Controlling for the energy efficiency of houses, we further find that energy consumption as measured by heating and energy costs are lower for future-oriented and pro-environmental individuals. Social preferences measured in a dictator and a generosity game play a mixed role for investments in energy efficiency and energy consumption.

Keywords: Risk Preferences; Time Preferences; Environmental Preferences; Social Preferences; Energy Efficiency; Artefactual Field Experiment (search for similar items in EconPapers)
Date: 2015
New Economics Papers: this item is included in nep-cbe, nep-ene, nep-env, nep-exp and nep-res
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (23)

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Related works:
Journal Article: Heterogeneous preferences and investments in energy saving measures (2021)
Working Paper: Heterogeneous preferences and investments in energy saving measures (2021)
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Persistent link: https://EconPapers.repec.org/RePEc:twi:respas:0095

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