Promoting Consumer Adoption of Electric Vehicles from a Standard-Information-Behavior Perspective

Abstract

Consumer adoption of electric vehicles is essentially related to product quality factors, such as safety, performance and compatibility; however, the relationship between product quality standards and consumer behavior is not clear. Based on Multi-Attribute Utility Theory (MAUT) and Prospect Theory, we distinguish claimed quality attributes, intrinsic quality attributes, measured quality attributes and perceived quality attributes and establish a conceptional model using System Dynamics (SD) simulation from the perspective of a Standard-Information-Behavior framework to explore the heterogeneous impacts of technical standards on consumers’ willingness to adopt electric vehicles. Based on the theory model and simulation, we try to explain the heterogeneous effects of three different standards: safety, performance and compatibility. We find that safety standards affect adoption through a market access mechanism, perceived performance of risk standards positively impacts customers’ perceived quality, and compatibility standards influence consumers’ perceived network value. The perceived risk, perceived quality and perceived network value influence consumer adoption willingness and behavior. The study contributes to the theory of innovation diffusion and consumer adoption behavior, and offers insights for standardizing activity, innovation diffusion and marketing product information for electric vehicles.

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“…Safety concerns play a significant role in customer apprehension toward EVs. [7,8] The examples of LIB fires range from exploding laptop batteries to electric cars burning at charging stations. [9] These incidents cause safety anxiety among consumers.…”