How hyperbolic discounting preference affects Chinese consumers' consumption choice between conventional and electric vehicles
文献类型：期刊论文
| 作者 | Wu, Tian1,2,3 ; Shang, Zhe4; Tian, Xin2,3,5; Wang, Shouyang1,2,3
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| 刊名 | ENERGY POLICY
 |
| 出版日期 | 2016-10-01 |
| 卷号 | 97页码:400-413 |
| 关键词 | Hyperbolic discounting Life-cycle private cost China transport Time discounting Irrational vehicle consumption choice |
| ISSN号 | 0301-4215 |
| DOI | 10.1016/j.enpol.2016.07.004 |
| 英文摘要 | This paper presents a theoretical model and addresses several issues related to life cycle cost analysis to illustrate how time-inconsistent preferences affect consumer choice. The particular case study selects involved consumer choice between a vehicle with high initial acquisition cost but low ownership cost (e.g., an Electric Vehicle, EV) and one with a low initial acquisition cost but high ownership cost (e.g., a conventional Internal Combustion Engine Vehicle, ICEV). To test our theoretical analysis, we conduct an empirical study on how time discounting rates affect consumer choice between ICEVs and EVs with different initial cost ratios. From the survey results, we find that individuals with higher present bias showed irrational purchase behavior even when controlling for wealth level. Specifically, people making some "stronger bias to present' decisions chose higher total cost ICEVs with lower initial cost but higher ownership cost over lower total cost EVs with higher initial cost and lower ownership cost. However, people's long-term discount is not correlated with irrational vehicle purchase behavior. Furthermore, we study the present bias and long-term discount rate in one scenario and found present bias to be correlated with irrational behavior. (C) 2016 Elsevier Ltd. All rights reserved. |
| 资助项目 | National Natural Science Foundation of China[71390331] ; National Natural Science Foundation of China[71202114] ; Shandong Independent Innovation and Achievement Transformation Special Fund of China[2014ZZCX03302] |
| WOS研究方向 | Energy & Fuels ; Environmental Sciences & Ecology |
| 语种 | 英语 |
| WOS记录号 | WOS:000383292900038 |
| 出版者 | ELSEVIER SCI LTD |
| 源URL | [http://ir.amss.ac.cn/handle/2S8OKBNM/23412]  |
| 专题 | 国家数学与交叉科学中心 系统科学研究所 |
| 通讯作者 | Tian, Xin |
| 作者单位 | 1.Chinese Acad Sci, Acad Math & Syst Sci, Beijing 100190, Peoples R China 2.Univ Chinese Acad Sci, Sch Econ & Management, Beijing 100190, Peoples R China 3.Chinese Acad Sci, Key Lab Big Data Min & Knowledge Management, Beijing 100190, Peoples R China 4.Peking Univ, Dept Psychol, Beijing 100871, Peoples R China 5.Chinese Acad Sci, Res Ctr Fictitious Econ & Data Sci, Beijing 100190, Peoples R China |
| 推荐引用方式 GB/T 7714 | Wu, Tian,Shang, Zhe,Tian, Xin,et al. How hyperbolic discounting preference affects Chinese consumers' consumption choice between conventional and electric vehicles[J]. ENERGY POLICY,2016,97:400-413. |
| APA | Wu, Tian,Shang, Zhe,Tian, Xin,&Wang, Shouyang.(2016).How hyperbolic discounting preference affects Chinese consumers' consumption choice between conventional and electric vehicles.ENERGY POLICY,97,400-413. |
| MLA | Wu, Tian,et al."How hyperbolic discounting preference affects Chinese consumers' consumption choice between conventional and electric vehicles".ENERGY POLICY 97(2016):400-413. |
入库方式： OAI收割
来源：数学与系统科学研究院
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