Attention, Media and Fuel Efficiency
This 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.
|Date of creation:||20 Sep 2012|
|Date of revision:|
|Contact details of provider:|| Postal: Vogelsanger Str. 321, Alte Wagenfabrik, 50827 Köln|
Phone: ++ 49 (0) 221 277 29 100
Fax: ++ 49 (0) 221 277 29 400
Web page: http://www.ewi.uni-koeln.de/
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Sendhil Mullainathan & Marianne Bertrand, 2001. "Do People Mean What They Say? Implications for Subjective Survey Data," American Economic Review, American Economic Association, vol. 91(2), pages 67-72, May.
- Yusufcan Masatlioglu & Daisuke Nakajima & Erkut Y. Ozbay, 2012.
American Economic Review,
American Economic Association, vol. 102(5), pages 2183-2205, August.
- Dora Gicheva & Justine Hastings & Sofia Villas-Boas, 2010. "Investigating Income Effects in Scanner Data: Do Gasoline Prices Affect Grocery Purchases?," American Economic Review, American Economic Association, vol. 100(2), pages 480-84, May.
- Turrentine, Thomas S. & Kurani, Kenneth S., 2007. "Car buyers and fuel economy?," Energy Policy, Elsevier, vol. 35(2), pages 1213-1223, February.
- Matthew S. Lewis & Howard P. Marvel, 2011. "When Do Consumers Search?," Journal of Industrial Economics, Wiley Blackwell, vol. 59(3), pages 457-483, 09.
- Zhi Da & Joseph Engelberg & Pengjie Gao, 2011. "In Search of Attention," Journal of Finance, American Finance Association, vol. 66(5), pages 1461-1499, October.
- Thomas Gilbert & Shimon Kogan & Lars Lochstoer & Ataman Ozyildirim, 2012.
"Investor Inattention and the Market Impact of Summary Statistics,"
INFORMS, vol. 58(2), pages 336-350, February.
- Thomas Gilbert & Shimon Kogan & Lars Lochstoer & Ataman Ozyildirim, 2007. "Investor Inattention and the Market Impact of Summary Statistics," GSIA Working Papers 2006-E24, Carnegie Mellon University, Tepper School of Business.
- Paul C. Tetlock, 2007. "Giving Content to Investor Sentiment: The Role of Media in the Stock Market," Journal of Finance, American Finance Association, vol. 62(3), pages 1139-1168, 06.
- Raj Chetty & Adam Looney & Kory Kroft, 2007.
"Salience and Taxation: Theory and Evidence,"
NBER Working Papers
13330, National Bureau of Economic Research, Inc.
- Looney, Adam & Kroft, Kory & Chetty, Raj, 2009. "Salience and Taxation: Theory and Evidence," Scholarly Articles 9748525, Harvard University Department of Economics.
- Raj Chetty & Adam Looney & Kory Kroft, 2009. "Salience and taxation: theory and evidence," Finance and Economics Discussion Series 2009-11, Board of Governors of the Federal Reserve System (U.S.).
- Chandra, Ambarish & Gulati, Sumeet & Kandlikar, Milind, 2010. "Green drivers or free riders? An analysis of tax rebates for hybrid vehicles," Journal of Environmental Economics and Management, Elsevier, vol. 60(2), pages 78-93, September.
- Arie Beresteanu & Shanjun Li, 2011. "Gasoline Prices, Government Support, And The Demand For Hybrid Vehicles In The United States," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 52(1), pages 161-182, 02.
- Gallagher, Kelly Sims & Muehlegger, Erich, 2008.
"Giving Green to Get Green: Incentives and Consumer Adoption of Hybrid Vehicle Technology,"
Working Paper Series
rwp08-009, Harvard University, John F. Kennedy School of Government.
- Gallagher, Kelly Sims & Muehlegger, Erich, 2011. "Giving green to get green? Incentives and consumer adoption of hybrid vehicle technology," Journal of Environmental Economics and Management, Elsevier, vol. 61(1), pages 1-15, January.
- Thomas Eisensee & David Strömberg, 2007. "News Droughts, News Floods, and U. S. Disaster Relief," The Quarterly Journal of Economics, Oxford University Press, vol. 122(2), pages 693-728.
- Malcolm Baker & Jeffrey Wurgler, 2007.
"Investor Sentiment in the Stock Market,"
NBER Working Papers
13189, National Bureau of Economic Research, Inc.
- Amos Tversky & Daniel Kahneman, 1991. "Loss Aversion in Riskless Choice: A Reference-Dependent Model," The Quarterly Journal of Economics, Oxford University Press, vol. 106(4), pages 1039-1061.
- Soren T. Anderson & Ryan Kellogg & James M. Sallee & Richard T. Curtin, 2011. "Forecasting Gasoline Prices Using Consumer Surveys," American Economic Review, American Economic Association, vol. 101(3), pages 110-14, May.
- Diamond, David, 2009. "The impact of government incentives for hybrid-electric vehicles: Evidence from US states," Energy Policy, Elsevier, vol. 37(3), pages 972-983, March.
- Li, Jun & Yu, Jianfeng, 2012. "Investor attention, psychological anchors, and stock return predictability," Journal of Financial Economics, Elsevier, vol. 104(2), pages 401-419.
- Stefano Dellavigna & Joshua M. Pollet, 2009. "Investor Inattention and Friday Earnings Announcements," Journal of Finance, American Finance Association, vol. 64(2), pages 709-749, 04.
- Kahn, Matthew E., 2007. "Do greens drive Hummers or hybrids? Environmental ideology as a determinant of consumer choice," Journal of Environmental Economics and Management, Elsevier, vol. 54(2), pages 129-145, September.
- Ambarish Chandra & Mariano Tappata, 2011. "Consumer search and dynamic price dispersion: an application to gasoline markets," RAND Journal of Economics, RAND Corporation, vol. 42(4), pages 681-704, December.
When requesting a correction, please mention this item's handle: RePEc:ris:ewikln:2012_011. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sabine Williams)
If references are entirely missing, you can add them using this form.