Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/251194 
Year of Publication: 
2022
Series/Report no.: 
Deutsche Bundesbank Discussion Paper No. 01/2022
Publisher: 
Deutsche Bundesbank, Frankfurt a. M.
Abstract: 
This paper studies the causal effect of providing information about climate changeon individuals' willingness to pay to offset carbon emissions in a randomizedcontrol trial. Receiving truthful information about ways to reduce CO2 emis-sions increases individuals' willingness to pay for CO2 offsetting relative to thecontrol group. Individuals receiving information about the behavior of peersreact similarly to those receiving information about scientific research. Individ-uals' responses vary depending on their socio-demographic characteristics andalso along a rich set of prior beliefs and concerns regarding climate change. Ina follow-up survey, we study the endogenous information acquisition of surveyparticipants and show that individuals choose information that aligns with theirviews. Individuals who choose to receive information about climate changehave a higher willingness to pay for CO2 offsets.
Subjects: 
Climate change
information treatment
willingness to pay
CO2 compensation
information acquisition
JEL: 
D10
D83
D91
Q54
ISBN: 
978-3-95729-867-6
Document Type: 
Working Paper

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