Willingness-to-pay and policy-instrument choice for climate-change policy in the United States. Kotchen, M. J., Boyle, K. J., & Leiserowitz, A. A. Energy Policy. ![Willingness-to-pay and policy-instrument choice for climate-change policy in the United States [link]](https://bibbase.org/img/filetypes/link.svg "link")
Paper doi abstract bibtex This paper provides the first willingness-to-pay (WTP) estimates in support of a national climate-change policy that are comparable with the costs of actual legislative efforts in the U.S. Congress. Based on a survey of 2034 American adults, we find that households are, on average, willing to pay between \$79 and \$89 per year in support of reducing domestic greenhouse-gas (GHG) emissions 17% by 2020. Even very conservative estimates yield an average WTP at or above \$60 per year. Taking advantage of randomized treatments within the survey valuation question, we find that mean WTP does not vary substantially among the policy instruments of a cap-and-trade program, a carbon tax, or a GHG regulation. But there are differences in the sociodemographic characteristics of those willing to pay across policy instruments. Greater education always increases WTP. Older individuals have a lower WTP for a carbon tax and a GHG regulation, while greater household income increases WTP for these same two policy instruments. Republicans, along with those indicating no political party affiliation, have a significantly lower WTP regardless of the policy instrument. But many of these differences are no longer evident after controlling for respondent opinions about whether global warming is actually happening.
@article{kotchen_willingness--pay_????,
title = {Willingness-to-pay and policy-instrument choice for climate-change policy in the {United} {States}},
issn = {0301-4215},
url = {http://www.sciencedirect.com/science/article/pii/S0301421512011111},
doi = {10.1016/j.enpol.2012.12.058},
abstract = {This paper provides the first willingness-to-pay (WTP) estimates in support of a national climate-change policy that are comparable with the costs of actual legislative efforts in the U.S. Congress. Based on a survey of 2034 American adults, we find that households are, on average, willing to pay between \$79 and \$89 per year in support of reducing domestic greenhouse-gas (GHG) emissions 17\% by 2020. Even very conservative estimates yield an average WTP at or above \$60 per year. Taking advantage of randomized treatments within the survey valuation question, we find that mean WTP does not vary substantially among the policy instruments of a cap-and-trade program, a carbon tax, or a GHG regulation. But there are differences in the sociodemographic characteristics of those willing to pay across policy instruments. Greater education always increases WTP. Older individuals have a lower WTP for a carbon tax and a GHG regulation, while greater household income increases WTP for these same two policy instruments. Republicans, along with those indicating no political party affiliation, have a significantly lower WTP regardless of the policy instrument. But many of these differences are no longer evident after controlling for respondent opinions about whether global warming is actually happening.},
urldate = {2013-01-19},
journal = {Energy Policy},
author = {Kotchen, Matthew J. and Boyle, Kevin J. and Leiserowitz, Anthony A.},
keywords = {Instrument choice, US climate policy, Willingness-to-pay},
file = {ScienceDirect Full Text PDF:files/37801/Kotchen et al. - Willingness-to-pay and policy-instrument choice fo.pdf:application/pdf;ScienceDirect Full Text PDF:files/38022/Kotchen et al. - Willingness-to-pay and policy-instrument choice fo.pdf:application/pdf}
}
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