Consumer preferences for automobile energy-efficiency grades

Yoonmo Koo (), Chang Seob Kim, Junhee Hong, Ie-Jung Choi and Jongsu Lee ()

Energy Economics, 2012, vol. 34, issue 2, 446-451

Abstract: Recently, increases in energy prices have made energy conservation and efficiency improvements even more essential than in the past. However, consumers experience difficulty in obtaining reliable information regarding energy efficiency, so that many countries have implemented regulations to enforce energy-efficiency grade labeling. In this study, consumer preferences regarding energy efficiency grades are analyzed by the mixed logit and MDCEV model based on the revealed preference data of past automobile purchases. Findings show that consumers rationally apply information on energy efficiency grades when purchasing automobiles. However, they tend to show inefficiency in automobile usage patterns. This study discusses political implications of energy efficiency policies as they might impact consumer behaviors of automobile purchase and usage.

Keywords: Mixed logit; Mixed multiple discrete-continuous extreme value; Energy efficiency grade (search for similar items in EconPapers)
JEL-codes: C35 Q53 Q58 (search for similar items in EconPapers)
Date: 2012
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (10)

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Working Paper: Consumer Preferences for Automobile Energy Efficiency Grades (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:eneeco:v:34:y:2012:i:2:p:446-451

DOI: 10.1016/j.eneco.2011.12.012

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