Consumer valuation of changes in driving range: A meta-analysis |
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| Institution: | 1. Institute for Environmental Studies (IVM), VU University Amsterdam, De Boelelaan 1087, 1081 HV Amsterdam, The Netherlands;2. PBL Netherlands Environmental Assessment Agency, Oranjebuitensingel 6, 2511 VE The Hague, The Netherlands;1. Environmental Policy Research Group, Korea Environment Institute, 370 Sicheong-daero, Sejong-si 339-007, South Korea;2. The University of Texas at Austin, Department of Civil, Architectural and Environmental Engineering, 301 E. Dean Keeton St. Stop C1761, Austin, TX 78712, United States;3. King Abdulaziz University, Jeddah 21589, Saudi Arabia;4. Georgia Institute of Technology, School of Civil and Environmental Engineering, Mason Building, 790 Atlantic Drive, Atlanta, GA 30332-0355, United States;1. School of Public Affairs and Administration, The University of Kansas, United States;2. School of Public and Environmental Affairs, Indiana University, United States;3. Maxwell School of Citizenship and Public Affairs, Syracuse University, United States;4. School of Public and Environmental Affairs, Indiana University-Purdue University Indianapolis, United States;5. RTI International, Research Triangle Park, NC, United States |
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| Abstract: | We perform a meta-analysis of studies investigating consumer preferences for electric and other alternative fuel vehicles (AFVs) to provide insights into the way driving range is traded off for capital costs. We find that consumers are willing to pay, on average, between 66 and 75 US$ for a 1-mile increase in driving range. Ceteris paribus, 100-mile-range cars have to be priced about 60% less than their conventional counterparts to become competitive. In line with intuition, but in contrast to most specifications employed in primary studies, we find that consumers’ marginal willingness to pay (WTP) decreases at a diminishing rate with increases in driving range. The variation in the WTP and compensating variation estimates among examined studies can be attributed to differences in the levels of driving range considered, in other elements of the study design and in the country of study. Our findings support stated preference literature’s conclusion that short driving range has been a major limitation to the large-scale adoption of battery electric vehicles (BEVs) and other AFVs, and that technological developments permitting longer driving ranges will, to some extent, facilitate their market penetration. We further propose that consumer valuation of driving range should not be examined in isolation from other attributes related to refuelling activities, such as refuelling duration and the coverage of refuelling infrastructure. |
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| Keywords: | Meta-analysis Driving range Willingness to pay Electric vehicle |
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