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Factors Influencing Consumer Willingness to Pay for Low-Carbon Products: A Simulation Study in China.
- Source :
- Business Strategy & the Environment (John Wiley & Sons, Inc); Nov2017, Vol. 26 Issue 7, p972-984, 13p, 2 Diagrams, 2 Charts, 3 Graphs
- Publication Year :
- 2017
-
Abstract
- Consumer choice behavior is crucial to supporting cleaner production and plays an essential role in low-carbon development and environmental policy-making. Therefore, combining system dynamics with an agent-based model (SD-AB), the present study explores influencing factors on both providers' and consumers' sides. Using empirical data from selected firms and a questionnaire survey of residents in China, the simulation results revealed that consumers' low-carbon awareness and income have little effect on their willingness to pay for low-carbon products. In contrast, some factors have an obvious effect on consumers' willingness to pay for low-carbon products, including the delivery speed of low-carbon products, consumers' patience and degree of satisfaction. Thus, companies that provide low-carbon products should be more focused on customer expectations and should ensure timely and efficient delivery to consumers. Copyright © 2017 John Wiley & Sons, Ltd and ERP Environment [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 09644733
- Volume :
- 26
- Issue :
- 7
- Database :
- Complementary Index
- Journal :
- Business Strategy & the Environment (John Wiley & Sons, Inc)
- Publication Type :
- Academic Journal
- Accession number :
- 126068920
- Full Text :
- https://doi.org/10.1002/bse.1959