Experimental auction confirmation that social desirability bias does not predict willingness to pay for eco-labeled goods. (10th December 2022)

• Record Type: Journal Article
• Authors: Payne, Jessica; Higgins, Kieran; Longo, Alberto; Hutchinson, George
• Is Part Of: Experimental results. Volume 3(2022)
• Publication Date: 2022-12-10
• Subjects: eco-label -- experimental auction -- second-price Vickrey auction -- social desirability bias -- willingness to pay; Science -- Experiments -- Periodicals; Science -- Methodology -- Periodicals; 507.24
• DOI: 10.1017/exp.2021.24
• Languages: English
• ISSNs: 2516-712X

Abstract

Abstract: It is often assumed that consumers' willingness to pay (WTP) for eco-labeled products in research settings is not because of a desire for environmental protection, but rather that they are socially compelled to make decisions that reflects favorably on them, limiting the validity of findings. Using a second-price Vickrey experimental auction, this study found higher WTP for an eco-labeled product than a comparable good, but that social desirability bias, measured by the Marlowe–Crowne Social Desirability Scale, was not a significant predictor of WTP. Instead, environmental consciousness, environmental knowledge, education, and available information were stronger predictors of WTP for eco-labeled goods.