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Summary: www.eprg.group.cam.ac.uk
EPRGWORKINGPAPER
Abstract
Information Effects in Valuation of Electricity and
Water Service Attributes Using Contingent
Valuation
EPRG Working Paper 1127
Cambridge Working Paper in Economics 1156
Elcin Akcura
Consumers constantly make decisions on the goods and services they
purchase, in most cases with incomplete information. Many products
that are available in stores, in catalogues, or over the internet are not
presented with a full list of attributes or technical specifications. Lack of
information is most apparent in non-market goods such as utility service
attributes. This paper examines information effects on consumers'
willingness to pay (WTP) for a number of electricity and water attributes
using two contingent valuation surveys administered in the UK. The
attributes considered include WTP for a carbon cleaner electricity fuel
mixture as well as increasing security of supply. The results indicate that
the quantity and complexity of information can potentially lead
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