Asymmetric preference and loss aversion for electric vehicles: The reference-dependent choice model capturing different preference directions

Kim, Jung-Hun; Seung, Hyunchan; Lee, Jongsu; Ahn, Joongha

doi:10.1016/j.eneco.2020.104666

Cited by 31 publications

(12 citation statements)

References 47 publications

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“…Kahneman and Tversky (1979) made one of the first attempts to incorporate reference points into preference models, subsequently widely applied in different areas. In consumer behaviour area, researchers verified the effect of reference points on consumer preference and choice (Dhar et al., 1999; Dhar & Simonson, 1992; Kim, Lee, et al., 2020; Kim, Seung, et al., 2020). In decision‐making area, reference points play a very important role in explaining effects such as the status quo bias and endowment effect (Johnson et al., 1993; Kahneman et al., 1990; Thaler, 1980).…”

Section: Introductionmentioning

confidence: 94%

Reference points in consumer choice models: A review and future research agenda

Wang

Sun

Zhang

et al. 2020

Int J Consumer Studies

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Reference‐dependent consumer preference and choice have been the focus of marketing and behavioural decision researchers for decades. Researchers have proposed different ways of incorporating reference‐dependent consumer preference into quantitative models. No extant research, however, systematically examines and evaluates these modelling methods. As more empirical research on reference‐dependent preference emerges in different areas, this review is both timely and of great importance. The paper pays special attention to empirical articles that incorporate reference points into consumer choice models and classifies the models in terms of reference point operationalization, model framework and reference point heterogeneity. By comparing and evaluating various conceptualizations of reference points and extant empirical choice models, we seek to provide guidance and directions in terms of theory, contexts and methodology (TCM) to future researchers with different application areas and focus of studies. The paper synthesizes the previous findings and identifies current research gaps, which allow us to provide future directions in this research domain.

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Section: Introductionmentioning

confidence: 94%

Reference points in consumer choice models: A review and future research agenda

Wang

Sun

Zhang

et al. 2020

Int J Consumer Studies

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“…The study [2] investigates preferences for electric vehicles in South Korea with a discrete choice model. Preferences tend to depend on the current car and driving habits.…”

Section: Literature Reviewmentioning

confidence: 99%

“…With data from a stated preference survey from Italy in 2017, they find that with increased knowledge and experience of electric vehicles, the order of the choice attributes changes towards being more homogenous with the one for combustion engine vehicles. However, like [2], they emphasize that the major concern among consumers is the range uncertainty and undeveloped charging station net, particularly for those who do not have access to private parking and charging facilities.…”

Section: Literature Reviewmentioning

confidence: 99%

“…The fuel cells will then be used to charge the batteries of electric vehicles when the renewable energy sources give no or insignificant power. This could be a possible solution for the problem of charging possibilities, one of the major problems preventing BEV adoption among consumers according to [2,12]. The stations must, however, be built, and charging must be sufficiently fast to satisfy potential BEV drivers.…”

Section: Literature Reviewmentioning

confidence: 99%

“…Many countries have, for this reason, established comprehensive policy programs to initiate a transition to fossil-free vehicles [1]. So far, the market diffusion of electric vehicles has not reached the governmental objectives in most countries [2]. However, with increasing individual environmental insight, the improved performance of electric vehicles and government subsidies, the demand is rising fast, and consequently so is the demand for electricity.…”

Section: Introductionmentioning

confidence: 99%

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Effect of Having Solar Panels on the Probability of Owning Battery Electric Vehicle

Gezelius

Mortazavi

2022

WEVJ

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Greenhouse gas emissions, produced by various sectors, including transportation, are significantly impairing the environment and drive climate change. Battery electric vehicles are increasingly seen as a way to alleviate these problems, but they must be charged with electricity produced through environmentally friendly methods. This paper investigates a possible relationship between battery electric vehicles and solar photovoltaic panels using ENABLE.EU household survey data from ten European countries in autumn 2017–spring 2018. Based on the estimates from a recursive bivariate probit model, it is found that the probability that a household owns a battery electric vehicle increases significantly if said household owns solar photovoltaic panels. This suggests that a policy encouraging the home charging of battery electric vehicles using solar photovoltaic panels that includes an energy storage facility could speed up the transition to the use of these vehicles.

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