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Consumer Perceptions of Climate Changes and WTP for Mandatory Implementation of Low Carbon Labels: The Case of South Korea

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  • Kim, Hyeyoung
  • House, Lisa
  • Kim, Tae-Kyun

Abstract

Voluntarily implemented carbon labels have shown that there is a lack of motivation by companies to develop technology to reduce carbon emissions. This study examined consumer values for mandatory carbon labels in South Korea. Considering the altruistic nature of carbon labels, we asked about individuals’ perceptions about the impact of climate change on their personal lives to measure consumer preference for carbon labels. Significant preference for mandatory carbon labels reflected Koreans’ high level of concern about climate change. As an increasing number of consumers feel the impact of climate change, the gap of WTPs between low carbon labels and carbon measured labels is sufficient. The lower value of low-carbon labels as compared to GM labels indicates that consumers’ guilt is not an appropriate strategy with carbon labels.

Suggested Citation

  • Kim, Hyeyoung & House, Lisa & Kim, Tae-Kyun, 2014. "Consumer Perceptions of Climate Changes and WTP for Mandatory Implementation of Low Carbon Labels: The Case of South Korea," 2014 Annual Meeting, July 27-29, 2014, Minneapolis, Minnesota 170190, Agricultural and Applied Economics Association.
    • Handle: RePEc:ags:aaea14:170190
    DOI: 10.22004/ag.econ.170190
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    References listed on IDEAS

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    Cited by:

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    2. Kitchel, Hannah & Boehm, Rebecca L. & Cash, Sean B., 2018. "Does Consumer Climate Change Knowledge and Risk Perception Influence Willingness to Pay for Climate Mitigation in Beverage Crop Production?," 2018 Annual Meeting, August 5-7, Washington, D.C. 274067, Agricultural and Applied Economics Association.

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