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The interplay between intrinsic motivation, financial incentives and nudges in sustainable consumption

In: A Research Agenda for Economic Psychology

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  • Daniel Schwartz
  • Taciano L. Milfont
  • Denis Hilton

Abstract

In this chapter, the authors review and discuss the drivers that affect sustainable consumption by focusing on behavioural interventions employed in public policies by private organizations and governments. They differentiate interventions that may promote intrinsic (pro-environmental or prosocial) motivation from those that consider extrinsic factors, such as financial incentives and reputational motivation. They also discuss how policy tools, called nudges, can affect behaviour without a substantial change in the available choice set or its associated economic incentives. They find that the effect of providing financial incentives on sustainable consumption is mixed, and that financial incentives may mobilize non-economic drivers in a similar way to nudges. These considerations invite a closer examination of what is considered intrinsic motivation in the domain of sustainable consumption and how it should be measured, as well as how green financial incentives can be structured and framed in a way that favour nudging effects as well as purely economic price effects.

Suggested Citation

  • Daniel Schwartz & Taciano L. Milfont & Denis Hilton, 2019. "The interplay between intrinsic motivation, financial incentives and nudges in sustainable consumption," Chapters, in: Katharina Gangl & Erich Kirchler (ed.), A Research Agenda for Economic Psychology, chapter 7, pages 87-103, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:18159_7
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    Cited by:

    1. Luca A. Panzone & Natasha Auch & Daniel John Zizzo, 2024. "Nudging the Food Basket Green: The Effects of Commitment and Badges on the Carbon Footprint of Food Shopping," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 87(1), pages 89-133, January.

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    Keywords

    Economics and Finance;

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