Product repairments slow down production and consumption circles and are therefore a crucial element to reduce waste and to transit economies towards sustainable economic growth. Evaluating factors that influence repairment propensities of consumers is the first step to establish effective policies to reduce barriers to repairment and to motivate consumers to repair products instead of replacing them. We research on UK household behavior for repairment vs replacement of gas and electric household appliances from 2001 to 2018 and investigate on driving factors behind the observed dynamics. Analyzing UK household expenditure data, using logit regression analysis, we observe a negative trend for the rate of repairments and find repairment price relative to replacement price, age, family size and level of education to be significant influences. Combining our findings with a thorough discussion on economic barriers to repairment observed in the UK, we conclude that with increasing economic growth and technological development, policy makers face more challenges than before promoting product repairment against replacement in order to move the UK away from a throwaway society and towards a Circular Economy.
|Educations||MSc in Advanced Economics and Finance, (Graduate Programme) Final Thesis|
|Number of pages||105|