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The behavioral effect of Pigovian regulation: Evidence from a field experiment

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  • Lanz, Bruno
  • Wurlod, Jules-Daniel
  • Panzone, Luca
  • Swanson, Timothy

Abstract

Pigovian regulation provides monetary penalties/rewards to incentivize prosocial behavior, and may thereby trigger behavioral effects beyond a more standard response associated with a change in relative prices. This paper quantifies the magnitude of these behavioral effects using data from an experiment on real product choices together with a structural model of consumer behavior. First, we show that information about external effects (products' embodied carbon emissions) triggers voluntary substitution towards cleaner alternatives, and we estimate that this effect is equivalent to a change in relative prices of GBP30.69-165.15/tCO2. Second, comparing a Pigovian intervention (GBP19/tCO2) with a neutrally-framed price change of the same magnitude, we find a negative behavioral effect associated with regulation. Compensating this bias would require increasing the Pigovian price signal by up to 48.06/tCO2. Finally, based on a cross-product comparison, we show that the magnitude of behavioral effects declines with substitutability between clean and dirty product alternatives, a measure of effort to reduce emissions.

Suggested Citation

  • Lanz, Bruno & Wurlod, Jules-Daniel & Panzone, Luca & Swanson, Timothy, 2018. "The behavioral effect of Pigovian regulation: Evidence from a field experiment," Journal of Environmental Economics and Management, Elsevier, vol. 87(C), pages 190-205.
    • Handle: RePEc:eee:jeeman:v:87:y:2018:i:c:p:190-205
    DOI: 10.1016/j.jeem.2017.06.005
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    More about this item

    Keywords

    Externalities; Pigovian regulation; Consumer behavior; Information; Field experiments; Environmental policy;
    All these keywords.

    JEL classification:

    • C93 - Mathematical and Quantitative Methods - - Design of Experiments - - - Field Experiments
    • D03 - Microeconomics - - General - - - Behavioral Microeconomics: Underlying Principles
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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