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Using stated preference methods to design cost-effective subsidy programs to induce technology adoption: an
Walter Gómez1, Hugo Salgado2, Felipe Vásquez3
1Departamento de Ingeniería Matemática, Universidad de La Frontera, Avenida Francisco Salazar 01145, Temuco, Chile; Research Nucleus in Environmental and Resource Economics - MSI, Chile.
Journal of Environmental Management
|December 24, 2013
Summary
Households in Chile are willing to adopt new, efficient technologies through subsidy programs. Factors beyond price influence adoption, and credit access is key for program success.
Area of Science:
- Environmental Economics
- Behavioral Economics
- Public Policy
Background:
- Pollution reduction programs require household adoption of new technologies.
- Economic incentives, like subsidies, can encourage technology adoption.
- Understanding household willingness to pay is crucial for program design.
Purpose of the Study:
- To design an effective economic incentive program (subsidy) for efficient technology adoption.
- To estimate household adoption probability and cost-sharing willingness.
- To analyze the cost-effectiveness of different subsidy schemes for pollution reduction.
Main Methods:
- Utilized stated preferences methods, including contingent valuation (CV) and choice experiment (CE).
- Employed numerical exploration to assess cost-effectiveness of subsidy schemes.
- Analyzed determinants of household participation and payment decisions.
Main Results:
- Households show willingness to participate in voluntary programs and share technology adoption costs.
- Technology attributes beyond price significantly influence adoption decisions.
- Limited credit access for low-income families presents a significant implementation barrier.
Conclusions:
- Subsidy design and regulatory objectives critically impact emission reduction levels and costs.
- Effective pollution reduction programs require consideration of household economic factors and technology attributes.
- Tailored subsidy schemes are necessary to overcome adoption barriers and achieve environmental goals.
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