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Although Carbon Capture and Storage (CCS) technologies can potentially play an important role in climate change mitigation efforts, commercial CCS projects are still rare. Knowledge about the technical challenges of these technologies is rapidly advancing, but the challenges related to their public acceptance are still underinvestigated. Here we try to close this research gap by investigating public perceptions of CCS and public attitudes towards policies to scale up these technologies in the United States, where most existing industrial-scale CCS projects are operating. Based on a demographically representative sample of US residents, we find that awareness of CCS is very low. Using a conjoint experiment, we show that policies that outlaw the construction of new coal- and gas-fired power plants without CCS find higher public support than CCS subsidies and increases in taxes on unabated fossil fuel power generation. Public support decreases with rising costs of CCS deployment and decreasing minimal distance requirements of CCS plants from residential areas. Our results provide insights into the political feasibility of a large-scale deployment of CCS and show that specific policy design choices play an important role in influencing public support for policies to scale up these technologies.

AbstractWhat are the roles of bottom-up and top-down signals in the formation of climate change policy preferences? Using a large sample of American residents (n = 1520) and combining an experimental manipulation of descriptive social norms with two choice experiments, we investigate the effects of descriptive norms and policy endorsements by key political actors on climate policy support. We study these questions in two areas considered to be central in a number of decarbonization pathways: the phase-out of fossil fuel-powered cars and the deployment of carbon capture and storage. Our study provides two important results. First, social norm interventions may be no silver bullet for increasing citizens' support for ambitious climate policies. In fact, we not only find that climate policy support is unaffected by norm messages communicating an increased diffusion of pro-environmental behaviors, but also that norm messages communicating the prevalence of non-sustainable behaviors decrease policy support. Second, in the presence of policy endorsements by political parties, citizens' trust in these parties influences their support for climate policies. This study contributes to research in behavioral climate policy by examining the impact of descriptive norms and elite cues on climate policy support.

An experiment examined how the type and presentation format of information about investment options affected investors' expectations about asset risk, returns, and volatility and how these expectations related to asset choice. Respondents were provided with the names of 16 domestic and foreign investment options, with 10‐year historical return information for these options, or with both. Historical returns were presented either as a bar graph of returns per year or as a continuous density distribution. Provision of asset names allowed for the investigation of the mechanisms underlying the home bias in investment choice and other asset familiarity effects. Respondents provided their expectations of future returns, volatility, and expected risk, and indicated the options they would choose to invest in. Expected returns closely resembled historical expected values. Risk and volatility perceptions both varied significantly as a function of the type and format of information, but in different ways. Expected returns and perceived risk, not predicted volatility, predicted portfolio decisions.

AbstractIt has been a longstanding goal of the behavioral sciences to measure and model people's risk preferences. In this article, we adopt a novel theoretical perspective of doing so and test to what extent specific types of individuals share similar risk profiles (i.e., configurations of multidimensional risk preferences). To this end, we analyzed data of a U.S. sample (N = 3,123) in a comprehensive and rigorous way, resulting in a twofold contribution. First, based on data from the Domain-Specific Risk-Taking scale (DOSPERT) and using a cross-validation procedure, we established a multidimensional trait space including general and domain-specific dimensions of risk preference. Second, we employed model-based cluster analyses in this multidimensional trait space, finding that 66% of participants can be described well with four basic risk profiles. In sum, the typological perspective proposed in this article has important implications for current theories of risk preference and the measurement of individual differences therein.

AbstractThe success of choice architecture, including its adoption in government policy and practice, has prompted questions of whether choice architecture design decisions are sufficiently transparent and publicly acceptable. We examined whether disclosing to decision-makers that a particular choice architecture is in place reduces its effectiveness and whether an understanding of the effectiveness of choice architecture design decisions increases their acceptability. We find that disclosure of the design decision does not reduce its effectiveness and that individuals perceive the effectiveness of specific designs to be higher for others than for themselves. Perceived effectiveness for self increases when individuals have actually experienced the effect of a design decision rather than having it simply described to them. Perceived effectiveness for oneself and others increases the acceptability of the designs. We also find that the intentions of the source matter more than who the source actually is. Important for policy-makers, then, is that disclosure of design decisions does not reduce their effectiveness, and their acceptability depends on their perceived effectiveness and the inferred motivations of the design architect.