The Effects of Intertemporal Considerations on Consumer Preferences for Biofuels

Hayk Khachatryan, Jeff Joireman and Ken Casavant

No 150334, 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. from Agricultural and Applied Economics Association

Abstract: The relationship between the consideration of future and immediate consequences (CFC) and consumer preference for gasoline, cellulose-based and corn-based ethanol fuels was investigated using data from a representative panel of U.S. consumers. A panel of U.S. consumers completed the consideration of future consequences-14 scale, and made a series of choices in fueling scenarios. Results showed that the CFC score was positively associated with the choice for alternative transportation fuels. As the CFC score increases from its minimum to maximum, the predicted probability of choosing cellulose- and corn-based ethanol fuels increases from 14% to 61%, and 22% to 30%, respectively, and the probability of choosing gasoline drops from 64% to below 10%. Additional analyses showed that the CFC-Future and CFC-Immediate subscales were unique predictors of preference for biofuels. Implications for marketing of biofuels are discussed.

Keywords: Consumer/Household Economics; Institutional and Behavioral Economics; Resource /Energy Economics and Policy (search for similar items in EconPapers)
Pages: 39
Date: 2013
New Economics Papers: this item is included in nep-dcm, nep-ene, nep-env and nep-mkt
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea13:150334

DOI: 10.22004/ag.econ.150334

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