Work

A Behavioral Approach to Identify Barriers to Adoption of New Technology: A Case Study of Low-input Turfgrasses

Year: 2023

Type: article

Abstract: Adopting eco-friendly technologies, such as converting lawns to alternative low-input grass species, can reduce household expenditures and mitigate negative environmental impacts at the same time. However, the rate of adoption of these technologies has not been as high as expected. This study develops a behavioral framework to identify barriers to new technology adoption by incorporating both prospect theory and present bias. We apply the framework in a choice experiment to investigate the relative importance of several factors that shape decisions associated with adoption of low-input turfgrass. We find that loss aversion plays a significant role. Though consumers exhibit present bias, long-term benefits still matter to them. Insights from the behavior model suggest that marketing and government programs that promote cost–benefit-efficient technologies should focus on eliminating or reducing potential losses caused by product failure.

Source: Journal of Agricultural and Applied Economics

DOI: 10.1017/aae.2023.7

Authors: Chengyan Yue, Yufeng Lai, Eric Watkins, Aaron Patton, Ross Braun

Institutions: University of Minnesota, Purdue University West Lafayette, Kansas State University

Language: English

Topic: Decision-Making and Behavioral Economics

Subfield: General Decision Sciences

Field: Decision Sciences

Domain: Social Sciences

SDGs: Responsible consumption and production, Climate action

Open Access status: gold

Estimated APC paid: $1,670