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| 1 |
ID:
150064
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| Summary/Abstract |
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.
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| 2 |
ID:
117327
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| Publication |
2013.
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| Summary/Abstract |
Methods to control China's CO2 emissions under its rapid economic development process have received much attention. As the top industrialized and urbanized region in China, Beijing is a good case to show the trends of CO2 emissions in China, and examining how different drivers influence the CO2 emissions direction of Beijing can give valuable insights to other regions on dealing with the emerging climate change issues. To this end, we conducted structural decomposition analysis to quantify the contributions of technological and socio-economic factors to the rapid CO2 emissions growth in Beijing from 1995 to 2007. An increasing final demand level and production structure change led to carbonizing Beijing significantly, while energy intensity improvement was Beijing's sole prominent source on decarbonizing its economic development in 1995-2007. Further, results highlighted the importance of trading and investment in CO2 emissions variations in Beijing. The industrial structure change toward heavy manufacturing and services sectors led to the significant role of these sectors in CO2 emissions growth in Beijing. Beijing's carbonizing process is a reminder to other regions in China to reconsider the direction of their industrial structure change and implement consistent and strict energy-saving policies.
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