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Event Details
Event Name: Gosnell Lecture Series - Neha Khanna
Category: Academic/College Events
Sub Category: College of Liberal Arts
Description: The College of Liberal Arts
Gosnell Lecture Series

Neha Khanna
Professor of Economics & Environmental Studies,
Director of Graduate Studies
Binghamton University

Thursday, September 5th
Time: 3:00 4:00 pm
Place: Chester F. Carlson Center for Imaging Science
Carlson Auditorium (76-1125)

Topic: The Value of Environmental Status Signaling

How much are consumers willing to pay to signal their environmental consciousness? We provide a unique empirical strategy for identifying the social status signaling value of an environmental public good by focusing on the Toyota Prius and exploiting the physical uniqueness of the Toyota Prius relative to a control group of other hybrid vehicles that look virtually identical to their non-hybrid counterparts. From our identification strategy, we construct a quasi-experimental empirical hedonic pricing model of automobile values to test our hypothesis that owners of the Toyota Prius are willing to pay a premium for the Prius relative to other hybrids in order to signal their environmentally conscious attitudes. We find that, given our controls for observable and unobservable drivers influencing the value of the Toyota Prius, the Prius commands a social status signaling value of about $587, which is relatively smaller than the $1,954 premium commanded by hybrid vehicles for other, non-status signaling reasons.
Schedules: 09/05/2013   (3:00 PM - 4:00 PM)
Carlson Auditorium

Contact: Cassandra Shellman
Phone: 475-2057
Cost: No Cost