Green consumption is crucial for achieving sustainable development goals, particularly SDG 12, which emphasizes responsible consumption and production. Despite global efforts, green consumption habits remain uncommon. In China, for example, only about half of surveyed citizens report engaging in green consumption. This study aims to understand the factors influencing green consumption choices, focusing on the often-overlooked aspect of psychological costs associated with adopting environmentally friendly practices. The mindsponge theory, which posits that individuals reshape their psychological cognition through information processing and cost-benefit analysis, provides a valuable framework for this research. The study explores how perceived values (hedonic and utilitarian) and psychological costs (stress, stigma, and autonomy) interact to influence willingness to pay a green premium (WPGP) and ultimately shape green consumption behaviors. Three key research questions are addressed: 1) How do perceived values correlate with green consumption through WPGP? 2) Is there a significant difference between the relationships of perceived hedonic and utilitarian value on green consumption? 3) How do psychological costs influence the mechanism by which perceived values correlate with green consumption through WPGP? By answering these questions, the study aims to inform policy interventions that effectively promote sustainable consumption practices in line with China's green development agenda.

Existing literature on green consumption can be broadly categorized into three areas: demographic factors (individual characteristics, traits, cognitions, attitudes); product/service characteristics; and macro-environmental factors (public policy). While previous studies have examined the relationship between perceived value and green consumption, the results have been inconsistent, with varying definitions of perceived value. This study utilizes a two-dimensional structure of perceived value: utilitarian (economic and functional aspects) and hedonic (emotional aspects). The literature shows a generally positive relationship between perceived value and green consumption, but the differential effects of utilitarian and hedonic value have not been thoroughly investigated. The mediating role of willingness to pay a green premium (WPGP) has also yielded mixed results; some studies suggest it's a critical factor while others find it inadequate to explain green consumption. This study addresses these knowledge gaps by considering the moderating role of psychological costs, including stress, stigma, and autonomy. These costs, often ignored, can significantly influence the cost-benefit analysis of green consumption decisions, particularly due to loss aversion.

Data for this study were collected through an online survey on the Credemo platform in China (March 23rd to April 2nd, 2023). 677 participants completed the questionnaire, receiving 5 RMB for participation. The survey included scales measuring green consumption (green purchasing, recycling, refusing disposable products), WPGP, perceived hedonic and utilitarian value, and psychological costs (stress, stigma, and autonomy). Confirmatory factor analysis (CFA) was conducted using the "lavaan" package in R to establish the measurement model, assess reliability (Cronbach's α, composite reliability, average variance extracted), and validate the construct validity. A structural equation model (SEM) was then used to test the hypothesized moderated mediation model, including control variables (sex, age, education level, income, occupation). Bootstrap resampling (5000 times) was employed to estimate indirect effects and their confidence intervals, addressing potential non-normality of data. Harman's single-factor test was used to assess common method bias. The study used specific measurement items that were confirmed to have similar constructs within a Chinese context. The CFA results, presented in Figure 2, showed that all factor loadings exceeded 0.5, and the structural model exhibited good fit indices (χ²=460.874, df=216, CFI=0.961, GFI=0.944, RMSEA=0.041, SRMR=0.044). Table 2 presents the reliability (Cronbach's α, CR) and validity (AVE) indices for each latent variable, demonstrating good overall reliability and convergent validity. The study also confirmed ideal discriminant validity using the AVE comparison approach.

The analysis revealed significant direct and indirect relationships between perceived value, WPGP, and green consumption behaviors. Figure 3 presents the results of the SEM analysis. When the influence of WPGP was excluded, utilitarian value significantly and positively predicted green purchasing and recycling, and negatively predicted the use of disposable products. Hedonic value only significantly predicted green purchasing. The negative impact of utilitarian value on disposable product use was significantly stronger than that of hedonic value. The positive effect of utilitarian value on recycling was also greater than that of hedonic value, while the difference in direct effects on green purchasing was insignificant. This partially supported Hypothesis 3. The analysis confirmed Hypothesis 1, showing that WPGP significantly mediated the relationship between both perceived hedonic and utilitarian value and all three green consumption behaviors. Hypothesis 2 was also supported; the indirect effect of hedonic value on all three behaviors was stronger than that of utilitarian value (Table 3). Regarding psychological costs, stress significantly reduced WPGP, while stigma increased it, confirming Hypotheses 4a and 4b. However, Hypothesis 4c (autonomy increasing WPGP) was rejected. The study further investigated the moderating effects of psychological costs. Stress positively moderated the relationship between hedonic value and WPGP (Figure 4), supporting Hypothesis 5a. Stigma negatively moderated the relationship between utilitarian value and WPGP (Figure 5), partially confirming Hypothesis 5b. Hypothesis 5c (the moderating role of autonomy) was rejected. Table 4 shows the conditional indirect effects at different levels of stress and stigma, revealing how stress enhances the impact of hedonic value and stigma weakens the impact of utilitarian value on green consumption through WPGP. Finally, Table 5 demonstrates that the indirect effect of hedonic value is consistently stronger than that of utilitarian value at high levels of stress and stigma, while this difference is less pronounced or non-significant at low levels.

The findings highlight the importance of perceived value in driving green consumption, with distinct effects of hedonic and utilitarian value. The study shows that WPGP plays a significant mediating role, contrary to some previous research. This clarifies the complex relationships between perceived value, WPGP and green consumption behavior. The results emphasize the importance of considering psychological costs when designing policies to encourage green consumption. Stress, by increasing the perceived costs of green behavior, reduces WPGP and thus weakens the positive effect of utilitarian value. Conversely, stigma, by increasing the perceived cost of *not* engaging in green consumption, increases WPGP and thus weakens the influence of utilitarian value. The study's results support mindsponge theory, which suggests individuals process information through a cost-benefit filter, and are more sensitive to loss than gains. The study also suggests that focusing on the hedonic aspects of green consumption may be more effective when psychological costs are high, while focusing on the utilitarian aspects is more effective when WPGP is already high or difficult to further increase.

This study provides valuable insights into the mechanisms driving green consumption behavior, emphasizing the crucial role of perceived value, WPGP, and the moderating influence of psychological costs. Policymakers should consider the distinct roles of hedonic and utilitarian value, and tailor strategies to alleviate psychological costs or leverage existing social norms to promote sustainable practices. Future research could explore the interaction of sociocultural factors with psychological costs and perceived value and employ longitudinal studies or experiments to further understand the causal relationships between these variables.

The study's reliance on a cross-sectional survey design limits the ability to establish causal relationships. The sample, while including diverse employment types, may not fully represent the Chinese population. Future research should address these limitations through longitudinal studies, experimental designs, and broader sampling strategies to enhance generalizability.