The cost reduction in energy usage for individuals leads to less global warming for society. Studies show that there is underinvestment in energy efficiency, which could be the result of imperfect information regarding costs and benefits and/or customers failing to understand certain attributes. This informational failure can be reduced by the information on the labels. Individuals tend to make decisions based only on available and accessible information (Daniel Kahneman, 2011, "What You See Is All There Is."). The current experimental study aims to investigate the effect of the information given about the attributes of an appliance, especially the energy efficiency level, on the valuations of the consumers. For that purpose, the choice experiment based on the Random Utility Theory is conducted which individuals make trade-offs between different attributes and attribute levels. As for the appliance, refrigerator is chosen with attributes of energy class, volume, sound, price, and energy consumption. Full factorial design is used where participants are asked to make sixteen scenario-based choices for refrigerators with different attributes. In addition, a framing effect question is asked with gain and loss frame when the amount of money paid is the same for the particular refrigerator. Individuals are expected to be loss averse. A pilot experiment is conducted to twenty-four individuals, and the Multinomial Logit Model analysis conclude that energy consumption, energy class, and volume seem to be the significant attributes (most important to least), whereas sound being the insignificant attribute. Further, participants are willing to pay twice more for the energy class D compared to E and almost the average price in the market just for the lowest energy consumption attribute. Lastly, framing the labels as the gain instead of loss of money creates positive effect on the individuals' choice of energy efficient appliance.