Heterogeneous preferences and investments in energy saving measures

Urs Fischbacher, Simeon Schudy and Sabrina Teyssier ()
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Sabrina Teyssier: GAEL - Laboratoire d'Economie Appliquée de Grenoble - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - UGA - Université Grenoble Alpes - Grenoble INP - Institut polytechnique de Grenoble - Grenoble Institute of Technology - UGA - Université Grenoble Alpes

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Abstract: We investigate whether risk, time, environmental, and social preferences affect single-family homeowners' investments in the energy efficiency 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. Pro-social preferences as measured in a dictator game relates positively to the energy quality of renovated houses. Controlling for the energy efficiency of houses, we further find that energy consumption as measured by heating and electricity costs is lower for future-oriented and pro-environmental individuals.

Keywords: Risk preferences; Time preferences; Environmental preferences; Social preferences; Energy efficiency; Artefactual field experiment (search for similar items in EconPapers)
Date: 2021-02
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Citations: View citations in EconPapers (16)

Published in Resource and Energy Economics, 2021, 63, ⟨10.1016/j.reseneeco.2020.101202⟩

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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 (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03726323

DOI: 10.1016/j.reseneeco.2020.101202

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