Attention, Media and Fuel Efficiency
AbstractThis study examines attention eﬀects in the market for hybrid vehicles. We show that local media coverage, gasoline price changes and unprecedented record gasoline prices have a signiﬁcant causal impact on the consumers’ attention. As attention is not directly observable, we analyze online search behavior as a proxy for the revealed consumer attention. Our study is based on weekly panel data of local newspaper coverage, gasoline prices and Google search trends for 19 metropolitan areas in the US. Additionally, we use monthly state-level panel data to show that the adoption rate of the hybrid vehicle technology is robustly related to our measure of attention.
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Bibliographic InfoPaper provided by Energiewirtschaftliches Institut an der Universitaet zu Koeln in its series EWI Working Papers with number 2012-11.
Length: 38 pages
Date of creation: 20 Sep 2012
Date of revision:
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More information through EDIRC
consumer behavior; attention; media; gasoline price; energy eﬃciency; hybrid vehicle;
Find related papers by JEL classification:
- D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
- L62 - Industrial Organization - - Industry Studies: Manufacturing - - - Automobiles; Other Transportation Equipment
- Q41 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Demand and Supply; Prices
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-09-30 (All new papers)
- NEP-ENE-2012-09-30 (Energy Economics)
- NEP-TRE-2012-09-30 (Transport Economics)
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