An experiment on energy-saving competition with socially responsible consumers: Opening the black box

Vasileiou, Efi; Georgantzı́s, Nikolaos

doi:10.1016/j.socec.2015.06.002

Cited by 13 publications

(9 citation statements)

References 42 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…A large number of studies have focused on the level of consumer trust of CSR (Kim et al, 2015) activities, the socially responsible behavior of investors (Cordeiro and Tewari, 2015), the reaction of local communities to business operations and the engagement of NGOs in corporate strategic management (Dawkins and Lewis, 2003). Literature on consumers includes studies examining the preferences and willingness of consumers to pay a premium for products produced following sustainable principles (Vlachos et al, 2009;Grebitus et al, 2016;Vasileiou and Georgantzis, 2015). Costaldo et al (2009) highlight that consumers demonstrate greater confidence in firms undertaking CSR activities and adopting ethical codes.…”

Section: Introductionmentioning

confidence: 99%

Community perceptions of local enterprises in environmentally degraded areas

Proikaki

Nikolaou

Jones

et al. 2018

Journal of Behavioral and Experimental Economics

View full text Add to dashboard Cite

Local enterprises can play a key role in the economic development of communities in which they are situated but simultaneously, they are often a contributor to negative impacts on the natural environment. Several studies have highlighted the importance of Corporate Social Responsibility (CSR) activities in order to strike a balance between socioeconomic and environmental impacts in such communities. However, there is very limited literature exploring community perceptions of local businesses. We consider this to be a key topic as such information can be used in order to develop socioeconomic and environmental policies based on the principles of sustainable development. In this paper, the results of an empirical study examining local community perceptions of business activities are presented and also perceptions regarding the contribution of firms, through CSR actions, to environmental quality restoration. The empirical study was conducted in communities located in the environmentally degraded area of the Asopos river in Greece.

show abstract

Section: Introductionmentioning

confidence: 99%

Community perceptions of local enterprises in environmentally degraded areas

Proikaki

Nikolaou

Jones

et al. 2018

Journal of Behavioral and Experimental Economics

View full text Add to dashboard Cite

show abstract

“…With respect to the reviewed research, the present contribution presents a main original feature: the seller's behavior under consideration neither improves the welfare of consumers as in Vasileiou and Georgantzís (2015)) nor impacts third parties without any opportunity to affect the sellers' surplus as in Rode et al (2008) and Bartling et al (2014). Transactions concluded in the market do not generate a negative effect on all market participants, as it is in Kuhn and Uler (2019).…”

Section: Related Experimental Literaturementioning

confidence: 99%

“…The authors show that consumers are willing to pay premia for ethically differentiated products, but when ethical differentiation is absent consumers tend to purchase at the lowest price irrespective of the costs incurred by producers. Vasileiou and Georgantzís (2015) study experimental markets with nine consumers and nine producers who interact for at least 36 periods. Their treatment condition involves asking producers to define not only the price (as in the baseline) but also the level of an energy-saving investment.…”

Section: Rel Ated E Xperimental Liter Aturementioning

confidence: 99%

Ethical consumerism and wage levels: Evidence from an experimental market

Antoni

Faillo

2022

Business Ethics Env & Resp

View full text Add to dashboard Cite

This paper contributes to the promotion of multidisciplinary research on ethical consumerism by providing experimental evidence on consumer's willingness to reward sellers by paying higher wages to their workers. We analyze repeated interactions occurring between workers, sellers, and consumers within the framework of an experimental market. By successfully performing a task, workers allow sellers to offer a good through a market. Sellers set the price of goods and decide the wages of workers. Consumers enter the market sequentially and decide whether to accept one of the offers or to leave the market. Our data show that, especially in the first periods of the experiment, some sellers opt to pay high wages to their workers. However, this behavior is not rewarded by consumers, whose purchasing choices are almost exclusively driven by self‐interest. In our interpretation, the connection between workers and sellers that connotes our experimental design, with workers who allow sellers to enter the market, may induce consumers to believe that eventual sacrifices for paying high wages to workers must be entirely on sellers. Our result suggests that the more salient is made the importance of some stakeholders in allowing the firm's activity, the fewer consumers' may be willing to sacrifice their monetary payoff to improve these stakeholders' condition.

show abstract

“…Moreover, following Eppstein et al (2011) [45], it is also assumed that if the product price exceeds 100% of the expected price, consumers will consider the product not affordable and refuse to purchase it. Therefore, the utility function of consumers' evaluation of different products is shown in formula (8)…”

Section: Consumer Purchase Decision-makingmentioning

confidence: 99%

“…Therefore, consumer income is an important factor that affects their purchase intention and behavior concerning green products [7]. Second, an increasing number of consumers value green products because these can save more energy and are environmentally friendly, among other reasons [8]. Besides, consumers are affected by their social networks; they may choose 2 Complexity products based on information shared with their friends and some network platforms [9].…”

Section: Introductionmentioning

confidence: 99%

Manufacturers’ Green Decision Evolution Based on Multi‐Agent Modeling

Zhu

Meng

et al. 2019

Complexity

View full text Add to dashboard Cite

The development of green products is gradually becoming important due to serious ecological issues. In this study, an agent-based model is developed to visualize and analyze the evolution of green decision-making in the manufacturing industry. Based on this agent-based model, the macrobehaviors of manufacturers, consumers, and products are analyzed and simulated. Our results show that, first, the manufacturing industry emerges showing a “convergence” effect. The manufacturers may overestimate the consumers’ green degree demand, but this gradually gets corrected through the mechanisms of market competition. Second, as consumer income increases, it becomes easier for manufacturers to adapt to the market’s supply and demand as impacted by the products’ green degrees, and it becomes unfavorable for them to form a monopoly in the market. Furthermore, the profit of manufacturers is mainly derived from the sales and gradually gets more influenced by the products’ green degree when the consumer income increases.

show abstract

An experiment on energy-saving competition with socially responsible consumers: Opening the black box

Cited by 13 publications

References 42 publications

Community perceptions of local enterprises in environmentally degraded areas

Community perceptions of local enterprises in environmentally degraded areas

Ethical consumerism and wage levels: Evidence from an experimental market

Manufacturers’ Green Decision Evolution Based on Multi‐Agent Modeling

Contact Info

Product

Resources

About