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On the Relevance of Values, Norms, and Economic Preferences for Electricity Consumption
Based on data of more than 3700 citizens in Germany, this paper empirically examines the relevance of several groups of explanatory factors for electricity consumption. Besides con-trolling for individual housing and dwelling characteristics as well as socio-demographics, we analyze the effect of en...
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| Published in: | MAGKS - Joint Discussion Paper Series in Economics (Band 07-2021) |
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| Main Authors: | , |
| Format: | Article |
| Language: | English |
| Published: |
Philipps-Universität Marburg
2021
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| Subjects: | |
| Online Access: | PDF Full Text |
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| Summary: | Based on data of more than 3700 citizens in Germany, this paper empirically examines the relevance of several groups of explanatory factors for electricity consumption. Besides con-trolling for individual housing and dwelling characteristics as well as socio-demographics, we analyze the effect of environmentally-related values and norms. Since behavioral economics reveals the importance of economic preferences for many individual activities, we additional-ly consider time and risk preferences, altruism, trust, and reciprocity in our econometric anal-ysis. With respect to the latter factors, only patience has a significantly negative effect on electricity consumption. Our estimation results instead suggest a high relevance of individual housing and dwelling characteristics and socio-demographics. The most interesting result is probably that neither environmentally-related values such as ecological policy identification and environmental awareness nor environmentally-related social norms have a significant effect. In contrast to the USA and to the demand for green electricity in Germany, these esti-mation results suggest that citizens in Germany with strong environmental identity do not consider low electricity consumption as an important direction for environmental and climate protection. |
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| Physical Description: | 29 Pages |
| ISSN: | 1867-3678 |
| DOI: | 10.17192/es2024.0683 |