Influence of Utilitarian and Hedonic Attributes on Willingness to Pay Green Product Premiums and Neural Mechanisms in China: An ERP Study

Green consumption is expected to become a new driving force for sustainable economic growth. The production cost of green products leads the existence premium, which affects willingness pay consumption. Moreover, influenced by product’s own attributes, such as its hedonic and utilitarian attributes. Our study used event-related potentials (ERPs) technique investigate how product attributes premiums affect information processing subsequent decision-making comparing consumers’ acceptance with different levels premiums. Behavioral results indicated that consumers were more willing than ERPs showed induced greater P2 component, suggesting price increases elicited cognitive attention in early stage high premium condition did not match In late stage, where attribute higher N4, concept reason reduce negative emotions generated thus accept product. findings can be explain psychological neural activities at stages when faced degree attribute-premium help companies optimize their pricing strategies using products’