Can implicit cognition predict the behaviour of professional energy investors?
Series
Journal of Applied Research in Memory and Cognition
Type
working paper
Date Issued
2015
Author(s)
Abstract
This article reports on the results of two studies involving seventy-seven professional investment managers in Switzerland. We designed an Implicit Association Test (IAT) to investigate whether unconscious attitudes towards renewable versus non-renewable energy sources influence investment behavior. In Study 1, we find that there is indeed a correlation between implicit associations and our dependent variable, net investment in solar energy. In Study 2, we replicate the results from Study 1 and also show that implicit associations are more strongly correlated to investment behavior than explicit associations, suggesting that application of the IAT may add value to the analysis of energy investor behavior. As an example of investigating factors influencing decision-making "in the wild", our study is subject to a number of limitations that can be used as starting points for further research in this area of high societal relevance.
Funding(s)
Language
English
Keywords
Implicit Cognition
Explicit Cognition
Implicit Association Test
Investment Decision Making
Renewable Energy
HSG Classification
contribution to scientific community
Refereed
Yes
Publisher
Elsevier B.V.
Publisher place
UK
Subject(s)
Eprints ID
242604