Climate Change Awareness and Willingness to Pay for its Mitigation: Evidence from the UK

Monika Novackova and Richard Tol

Working Paper Series from Department of Economics, University of Sussex Business School

Abstract: We explore an unprecedented dataset of almost 6000 observations to identify main predictors of climate knowledge, climate risk perception and willingness to pay for climate change mitigation. Among nearly 70 potential explanatory variables we detect the most important ones using multisplit lasso estimator. Importantly, we test significance of individuals' preferences about time, risk and equity. Our study is innovative as these behavioural characteristics were recorded by including experimental methods into a live sample survey. This unique way of data collection combines advantages of survey and experiments. The most important predictors of environmental attitudes are numeracy, cognitive ability, ideological world-view and inequity aversion.

Keywords: climate change; climate knowledge; climate policy; lasso; risk perception; willingness to pay (search for similar items in EconPapers)
JEL-codes: D80 Q54 Q58 (search for similar items in EconPapers)
Date: 2018-01
New Economics Papers: this item is included in nep-ene, nep-env and nep-upt
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Persistent link: https://EconPapers.repec.org/RePEc:sus:susewp:0318

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