Consumer preferences for automobile energy-efficiency grades
Yoonmo Koo (),
Chang Seob Kim,
Ie-Jung Choi and
Jongsu Lee ()
Energy Economics, 2012, vol. 34, issue 2, 446-451
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: Q53 Q58 C35 (search for similar items in EconPapers)
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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
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