 Valuing energy-saving measures in residential buildings: A choice experiment studySo-Yoon Kwak, Seung-Hoon Yoo () and Seung-Jun Kwak Energy Policy, 2010, vol. 38, issue 1, 673-677 Abstract: Air-conditioning and heating energy-saving measures can cut back the usage of energy. This paper attempts to apply a choice experiment in evaluating the consumer's willingness to pay (WTP) for air-conditioning and heating energy-saving measures in Korea's residential buildings. We consider the trade-offs between price and three attributes of energy-saving (window, facade, and ventilation) for selecting a preferred alternative and derive the marginal WTP (MWTP) estimate for each attribute. We also try to test irrelevant alternatives property for the estimation model holds and compare the estimation results of the multinomial logit (MNL) and the nested logit (NL) models. The NL model outperforms the MNL model. The NL model show that MWTPs for increasing the number of glasses and their variety, for increasing the thickness of facade for 1Â mm, and for establishing a ventilation system are KRW 17,392 (USD 18.2), 1,112 (1.2), and 11,827 (12.4), respectively. Overall, the potential consumers have significant amount of WTP. Keywords: Energy-saving; measures; Choice; experiment; Nested; logit; model (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:enepol:v:38:y:2010:i:1:p:673-677 Access Statistics for this article Energy Policy is currently edited by N. France More articles in Energy Policy from Elsevier |
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