Climate Policy Uncertainty and Household Investments

Last registered on October 19, 2024
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Pre-Trial

Trial Information

General Information

Title
Climate Policy Uncertainty and Household Investments
RCT ID
AEARCTR-0014573
Initial registration date
October 14, 2024

Initial registration date is when the trial was registered.

It corresponds to when the registration was submitted to the Registry to be reviewed for publication.

First published
October 19, 2024, 9:36 PM EDT

First published corresponds to when the trial was first made public on the Registry after being reviewed.

Locations

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Primary Investigator

Name
Andreas Gerster
Affiliation
University of Mannheim
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Other Primary Investigator(s)

PI Name
Paul Grass
PI Affiliation
University of Bonn and IZA
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PI Name
Kathrin Kaestner
PI Affiliation
RWI – Leibniz Institute for Economic Research and Ruhr University Bochum
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PI Name
Michael Kramm
PI Affiliation
Technical University Dortmund
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Additional Trial Information

Status
In development
Start date
2024-10-15
End date
2027-01-31
Keywords
Behavior, Environment & Energy
Additional Keywords
policy uncertainty, subjective expectations, energy efficiency investments, carbon pricing
JEL code(s)
D83
Secondary IDs
D91, Q58
Prior work
This trial does not extend or rely on any prior RCTs.
Abstract
In this study, we ask how climate policy uncertainty affects household investments in energy efficiency. We aim to shed light on this issue in the context of carbon pricing, as this policy has been widely advocated by economists as a key policy instrument for reducing greenhouse gas (GHG) emissions. We conduct a survey experiment in Germany, where a national carbon price on carbon emissions from the building and transport sectors has been introduced in 2021, and experimentally vary the uncertainty surrounding the carbon price path until 2030.
External Link(s)

Registration Citation

Citation
Gerster, Andreas et al. 2024. "Climate Policy Uncertainty and Household Investments." AEA RCT Registry. October 19. https://doi.org/10.1257/rct.14573-1.0
Sponsors & Partners
Experimental Details

Interventions

Intervention(s)
Intervention Start Date
2024-10-15
Intervention End Date
2024-12-14

Primary Outcomes

Primary Outcomes (end points)
1. Households' realized energy efficiency investments
2. Households’ willingness to pay (WTP) for an energy audit
Primary Outcomes (explanation)

Secondary Outcomes

Secondary Outcomes (end points)
Secondary Outcomes (explanation)

Experimental Design

Experimental Design
We provide households with one of two factual expert forecasts concerning the development of carbon prices in the German residential sector that vary in the degree of uncertainty.
Experimental Design Details
Not available
Randomization Method
Randomization done in office by a computer
Randomization Unit
Individual
Was the treatment clustered?
No

Experiment Characteristics

Sample size: planned number of clusters
7500 households
Sample size: planned number of observations
7500 households
Sample size (or number of clusters) by treatment arms
750 households control
3,375 households in every treatment group
Minimum detectable effect size for main outcomes (accounting for sample design and clustering)
see pre-analysis plan
Supporting Documents and Materials
IRB

Institutional Review Boards (IRBs)

IRB Name
GfeW Institutional Review Board
IRB Approval Date
2024-10-14
IRB Approval Number
KP7KFMfs
Analysis Plan

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