Climate change and individual behavior

Arbeitspapier

This paper studies the causal effect of providing information about climate changeon individuals' willingness to pay to offset carbon emissions in a randomizedcontrol trial. Receiving truthful information about ways to reduce CO2 emis-sions increases individuals' willingness to pay for CO2 offsetting relative to thecontrol group. Individuals receiving information about the behavior of peersreact similarly to those receiving information about scientific research. Individ-uals' responses vary depending on their socio-demographic characteristics andalso along a rich set of prior beliefs and concerns regarding climate change. Ina follow-up survey, we study the endogenous information acquisition of surveyparticipants and show that individuals choose information that aligns with theirviews. Individuals who choose to receive information about climate changehave a higher willingness to pay for CO2 offsets.

Object Details

• ISBN: 978-3-95729-867-6
• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Deutsche Bundesbank Discussion Paper ; No. 01/2022

Classification and Topics

• Classification: Wirtschaft ; Household Behavior: General ; Search; Learning; Information and Knowledge; Communication; Belief; Unawareness ; Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making‡ ; Climate; Natural Disasters and Their Management; Global Warming
• Subject: Climate change ; information treatment ; willingness to pay ; CO2 compensation ; information acquisition

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Bernard, René ; Tzamourani, Panagiota ; Weber, Michael
• Event: Veröffentlichung
• (who): Deutsche Bundesbank
• (where): Frankfurt a. M.
• (when): 2022

Further information

• Handle: http://hdl.handle.net/10419/251194
• Last update: 10.03.2025, 11:42 AM CET