What is green worth to you? Activating environmental values lowers price sensitivity towards electric vehicles

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We report two studies, testing the assumption that activating environmental values increases consumers' willingness to pay for electric vehicles (EVs). We hypothesized that sustainable products such as EVs enable consumers to meet their activated values. In Study 1 (. N = 171), activating environmental values resulted in more positive evaluations of EV costs as compared to the control group. Information about the product moderated effects of value activation on price evaluations: Value activation only improved EV cost evaluations when the product was presented as superior to current standards. Findings of Study 2 (. N = 100) indicated that price evaluation effects in Study 1 were based on value activation altering internal thresholds for sustainable product prices. Moreover, value activation resulted in less sensitive reactions to increases in price, that is, in lowered price sensitivity towards EVs.

Original languageEnglish
JournalJournal of Environmental Psychology
Volume40
Pages (from-to)306-319
Number of pages14
ISSN0272-4944
DOIs
Publication statusPublished - 19.08.2014
Externally publishedYes

Bibliographical note

Publisher Copyright:
© 2014 Elsevier Ltd.

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