Though nudges are gaining attention as complements to financial incentives, evidence of the interplay between these two policy instruments is lacking. Here, we discuss and evaluate how combinations of financial policies and nudges affect behaviors. Through a framed online experiment, we assess the effect of combining financial incentives (monetary reward) with nudges (goal setting and feedback). We introduce an innovative incentive-compatible energy-saving task: participants optimize their virtual energy consumption on a simulated washing machine. Our findings do not show evidence of synergies between traditional and behavioral interventions. On the contrary, the nudge seems to divert participants’ attention from the financial incentive.

Energy saving in a simulated environment: An online experiment of the interplay between nudges and financial incentives / Fanghella, V.; Ploner, M.; Tavoni, M.. - In: JOURNAL OF BEHAVIORAL AND EXPERIMENTAL ECONOMICS. - ISSN 2214-8043. - 93:(2021), p. 101709. [10.1016/j.socec.2021.101709]

Energy saving in a simulated environment: An online experiment of the interplay between nudges and financial incentives

Fanghella V.;Ploner M.;
2021-01-01

Abstract

Though nudges are gaining attention as complements to financial incentives, evidence of the interplay between these two policy instruments is lacking. Here, we discuss and evaluate how combinations of financial policies and nudges affect behaviors. Through a framed online experiment, we assess the effect of combining financial incentives (monetary reward) with nudges (goal setting and feedback). We introduce an innovative incentive-compatible energy-saving task: participants optimize their virtual energy consumption on a simulated washing machine. Our findings do not show evidence of synergies between traditional and behavioral interventions. On the contrary, the nudge seems to divert participants’ attention from the financial incentive.
2021
Fanghella, V.; Ploner, M.; Tavoni, M.
Energy saving in a simulated environment: An online experiment of the interplay between nudges and financial incentives / Fanghella, V.; Ploner, M.; Tavoni, M.. - In: JOURNAL OF BEHAVIORAL AND EXPERIMENTAL ECONOMICS. - ISSN 2214-8043. - 93:(2021), p. 101709. [10.1016/j.socec.2021.101709]
File in questo prodotto:
File Dimensione Formato  
45_FANGHELLA_PLONER_TAVONI_JBEE_2021.pdf

Solo gestori archivio

Tipologia: Versione editoriale (Publisher’s layout)
Licenza: Altra licenza (Other type of license)
Dimensione 1.49 MB
Formato Adobe PDF
1.49 MB Adobe PDF   Visualizza/Apri

I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione

Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11572/327141
Citazioni
  • ???jsp.display-item.citation.pmc??? ND
  • Scopus 8
  • ???jsp.display-item.citation.isi??? 7
social impact