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The study of norms is of paramount importance in understanding human behavior. An interdisciplinary literature, using varying definitions and conceptions, shows when and why norms emerge and spread, what form they can take, and how they are enforced. Here, we focus on theoretical and empirical literature that treats norms as a factor influencing human behavior. We first present a new taxonomy of norms, which builds upon and merges previous taxonomies, to distinguish between different types of norms and enforcement mechanisms. We then provide a conceptual framework that identifies reasons for the effects of norms. This framework is based on psychological theories, which serve as a foundation for much of the empirical economic literature measuring norm effects. Finally, we present an overview of empirical economic papers that study the effects of norms on environmentally relevant behavior, as a particularly relevant area for the study of norms. The aim of this overview is to highlight which effects have been insufficiently studied and to give a sense of the potential of norms. This can help policy makers intervene in a more targeted way to address environmental problems. [ABSTRACT FROM AUTHOR]

Based on data from a representative survey among citizens in Germany during the first peak of the COVID-19 crisis, this paper empirically examines the acceptance of climate-oriented economic stimulus programmes and several further individual climate policy measures. On the basis of our descriptive analysis, we find no evidence that support for such policy measures in Germany is very different during the COVID-19 crisis, compared to before the crisis. However, our econometric analysis points to the relevance of economic concerns. For example, a perceived deterioration of the general economic situation due to the COVID-19 crisis (and thus sociotropic concerns) has a significantly negative effect on the acceptance of climate-oriented economic stimulus programmes. Our econometric analysis also reveals that 'pocketbook' or egotropic concerns are even more relevant since individuals with concerns about their personal economic situation due to the COVID-19 crisis are significantly less supportive of several individual climate policy measures, especially if these lead to higher costs in daily life and are thus directly financially unfavourable. In addition, an identification with socially oriented policy has a significantly positive effect on support for climate policy measures that are financially beneficial for socially underprivileged groups and a significantly negative effect on support for policy measures that are financially unfavourable for them. Our estimation results thus point to the importance of social aspects for the acceptance of climate-oriented policy measures. We also discuss several climate policy implications. For example, our estimation results suggest that individually perceived economic and financial concerns due to the COVID-19 crisis should be addressed and ideally reduced to increase public support of climate-oriented policy measures. We find no evidence that the acceptance of climate policy measures in Germany is very different during the COVID-19 crisis, compared to before the crisis. Our empirical results are in line with the idea that economic downturns or crises can decrease the acceptance of climate-oriented policy measures among individuals with concerns about their personal economic situation. Our empirical analysis also points to the relevance of social aspects for support for climate policy measures. Therefore, general economic concerns due to the COVID-19 crisis should be addressed and ideally reduced to increase public support for climate-oriented policy measures. In addition, successful climate policy should be socially oriented and should consider distribution effects. [ABSTRACT FROM AUTHOR]

Given the increasing role of socially responsible investing (SRI), but still limited participation of individual (i.e. small, retail) investors, the objective of this study is twofold: (i) We aim to identify investment barriers regarding SRI for individual investors and analyze to what extent these barriers vary across different investor groups. (ii) We analyze to what extent sustainability or transparency labels can help to overcome these barriers. To this end, we empirically analyze data from a survey and a stated choice experiment for a broad sample of financial decision makers in German households. The results suggest that a considerable amount of respondents can imagine to invest in a socially responsible manner, which is promising for policymakers and practitioners who aim to foster sustainable development and SRI. However, too high information costs are a severe barrier for potential future investors and a considerable share of respondents distrusts providers of socially responsible investment products. Banks, who could help to solve this problem, appear not to fulfill their role as intermediaries. But we find that labels might serve as a complement to banks. Especially sustainability certificates that confirm the consideration of sustainability criteria could decrease information costs and overcome at least some barriers for some investor groups, particularly for new investors. However, the results also suggest that a certain degree of basic knowledge and trust in providers of socially responsible investment products is required before labels work efficiently. [ABSTRACT FROM AUTHOR]

This study aims to shed light on the relationship between individual and regional Christian religion (and religiosity) and individual sustainable behaviors in an exploratory manner, with a special focus on sustainable consumption and investment decisions. To this end, we econometrically analyze online representative survey data that contains information on the self-reported importance of the consideration of ecological and social/ethical criteria in the context of a large variety of individual behaviors. The target group are financial decisions makers in German households, i.e., important actors in the largest economy in Europe. Results of the econometric analysis suggest that Christian religion is positively related to a variety of (self-reported) ecological and social/ethical activities. Our findings empirically support explanations postulating a positive relationship between Christian religion and environmental behavior, such as the stewardship hypothesis, rather than opposite theories like White's (Science 155(3767):1203–1207, 1967) dominion hypothesis. Particularly, we find that both individual and regional measures for Christian religion positively affect various behaviors emphasizing the importance of individual and contextual norms for individual behavior. Hence, we provide empirical evidence for the importance of Christian religion for another country than the USA, which is typically in the focus of similar studies. Our results can be used for targeted information campaigns by politicians to enhance sustainable behaviors or acceptance for related policy measures. [ABSTRACT FROM AUTHOR]

On the basis of unique data from an (online) representative web-based survey among financial decision-makers in Germany, this paper empirically examines the relevance of contextual factors including social norms for socially responsible investments (SRIs). The econometric analysis reveals a significant positive correlation between SRIs and common attitudinal variables such as feelings of warm glow or social norms as, for example, prevalent in an environmental organization. In contrast, a left-wing political orientation is significantly negatively correlated with SRIs. However, the main result is that also perceived behaviours and expectations of peers for SRIs, especially in the narrowest social environment like the family, friends, and colleagues, are highly relevant. Overall, this suggests that SRI investors gain strong non-financial utility from sustainable investments. [ABSTRACT FROM AUTHOR]