Analyzing Korean consumers’ latent preferences for electricity generation sources with a hierarchical Bayesian logit model in a discrete choice experiment

Hyunsuk Byun and Chul-Yong Lee

Energy Policy, 2017, vol. 105, issue C, 294-302

Abstract: Generally, consumers use electricity without considering the source the electricity was generated from. Since different energy sources exert varying effects on society, it is necessary to analyze consumers’ latent preference for electricity generation sources. The present study estimates Korean consumers’ marginal utility and an appropriate generation mix is derived using the hierarchical Bayesian logit model in a discrete choice experiment. The results show that consumers consider the danger posed by the source of electricity as the most important factor among the effects of electricity generation sources. Additionally, Korean consumers wish to reduce the contribution of nuclear power from the existing 32–11%, and increase that of renewable energy from the existing 4–32%.

Keywords: Renewable energy; Electricity generation; Consumers’ preference; Hierarchical Bayesian logit model; Discrete choice experiment (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (17)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:enepol:v:105:y:2017:i:c:p:294-302

DOI: 10.1016/j.enpol.2017.02.055

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