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Patience and the adoption of electric vehicles: an application of the dual-self model

Author

Listed:
  • Wujin Chu

    (Seoul National University)

  • Hyunsik Kim

    (Hallym University)

  • Meeja Im

    (Cyber University of Korea)

Abstract

Solutions to environmental protection programs involve changes in human behavior. This study examined the importance of consumer patience and car usage on adoption of electric vehicles. Purchase of an EV requires patience both in terms of waiting for a longer payback period, and coping with the inconveniences of adjusting to a new technology. This research applied and extended the dual-self model of Fudenburg and Levine (Am Econ Rev 96(5):1449–1476, 2006) to the EV purchase context. The study extended the original model by relaxing the assumptions on the relation between self-control cost and net benefit from action. The modeling proved two results: that patient individuals and individuals with greater car usage are more likely to be early adopters of electric vehicles. Data collected from electric vehicle owners in Korea were compared to data from internal combustion vehicle owners. Two key variables, patience and car usage, were measured and regressed on the dependent variable of vehicle type owned. A logistic regression result showed supporting evidence for the two hypotheses. Implications for manufacturers and governments, based on the results, are discussed.

Suggested Citation

  • Wujin Chu & Hyunsik Kim & Meeja Im, 2021. "Patience and the adoption of electric vehicles: an application of the dual-self model," Journal of Business Economics, Springer, vol. 91(6), pages 851-866, August.
    • Handle: RePEc:spr:jbecon:v:91:y:2021:i:6:d:10.1007_s11573-020-01018-5
    DOI: 10.1007/s11573-020-01018-5
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    References listed on IDEAS

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    1. David K. Levine & Drew Fudenberg, 2006. "A Dual-Self Model of Impulse Control," American Economic Review, American Economic Association, vol. 96(5), pages 1449-1476, December.
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    Cited by:

    1. Wolfgang Breuer & Jannis Bischof & Christian Hofmann & Jochen Hundsdoerfer & Hans-Ulrich Küpper & Marko Sarstedt & Philipp Schreck & Tim Weitzel & Peter Witt, 2023. "Recent developments in Business Economics," Journal of Business Economics, Springer, vol. 93(6), pages 989-1013, August.
    2. Nizar Abdelkafi & Jinou Xu & Margherita Pero & Federica Ciccullo & Antonio Masi, 2023. "Does the combination of sustainable business model patterns lead to truly sustainable business models? Critical analysis of existing frameworks and extensions," Journal of Business Economics, Springer, vol. 93(4), pages 597-634, May.
    3. Khaleghikarahrodi, Mehrsa & Macht, Gretchen A., 2023. "Patterns, no patterns, that is the question: Quantifying users’ electric vehicle charging," Transport Policy, Elsevier, vol. 141(C), pages 291-304.

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    More about this item

    Keywords

    Electric vehicles; Dual-self model; Patience; Earl adopter; Environmentally-friendly behavior;
    All these keywords.

    JEL classification:

    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing

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