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Reflective Willingness to Pay: Preferences for Sustainable Consumption in a Consumer Welfare Analysis
Journal of Competition Law & Economics ( IF 1.3 ) Pub Date : 2021-08-09 , DOI: 10.1093/joclec/nhab016
Roman Inderst , Stefan Thomas

Our starting point is the following simple but potentially underappreciated observation: When assessing willingness to pay (WTP) for hedonic features of a product, the results of such measurement are influenced by the context in which the consumer makes her real or hypothetical choice or in which the questions to which she replies are set (such as in a contingent valuation analysis). This observation is of particular relevance when WTP regards sustainability, the ‘non-use value’ of which does not derive from a direct (physical) sensation and where perceived benefits depend heavily on available information and deliberations. The recognition of such context sensitivity paves the way for a broader conception of consumer welfare (CW), and our proposed standard of ‘reflective WTP’ may materially change the scope for private market initiatives with regards to sustainability, while keeping the analytical framework within the realm of the CW paradigm. In terms of practical implications, we argue, for instance, that actual purchasing decisions may prove insufficient to measure consumer appreciation of sustainability, as they may rather echo learnt but unreflected heuristics and may be subject to the specific shopping context, such as heavy price promotions. Also, while preferences may reflect the current social norm, the latter may change considerably over time as more consumers adapt their behaviour.

中文翻译:

反思性支付意愿:消费者福利分析中的可持续消费偏好

我们的出发点是以下简单但可能被低估的观察:在评估产品的享乐特征的支付意愿 (WTP) 时,这种测量的结果受到消费者做出真实或假设选择的环境的影响,或者她回答的问题已设置好(例如在或有估值分析中)。当 WTP 考虑可持续性时,这一观察尤其相关,其“非使用价值”并非来自直接(物理)感觉,并且感知收益在很大程度上取决于可用信息和审议。对这种情境敏感性的认识为更广泛的消费者福利(CW)概念铺平了道路,我们提出的“反思性 WTP”标准可能会实质性地改变私人市场倡议在可持续性方面的范围,同时将分析框架保持在 CW 范式的范围内。例如,就实际影响而言,我们认为,实际的购买决定可能不足以衡量消费者对可持续性的评价,因为它们可能更符合学习但未反映的启发式方法,并且可能受特定购物环境的影响,例如高价促销. 此外,虽然偏好可能反映了当前的社会规范,但随着更多消费者适应他们的行为,后者可能会随着时间的推移而发生很大变化。实际的购买决定可能不足以衡量消费者对可持续性的评价,因为它们可能会呼应已学过但未反映的启发式方法,并且可能会受到特定购物环境的影响,例如高价促销。此外,虽然偏好可能反映了当前的社会规范,但随着更多消费者适应他们的行为,后者可能会随着时间的推移而发生很大变化。实际的购买决定可能不足以衡量消费者对可持续性的评价,因为它们可能会呼应已学过但未反映的启发式方法,并且可能会受到特定购物环境的影响,例如高价促销。此外,虽然偏好可能反映了当前的社会规范,但随着更多消费者适应他们的行为,后者可能会随着时间的推移而发生很大变化。
更新日期:2021-08-09
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