Article
Business
Ahmed Rachid El-Khattabi, Shadi Eskaf, Julien P. Isnard, Laurence Lin, Brian McManus, Andrew J. Yates
Summary: The study found that households with heavy water usage are more price sensitive in the residential water market, and price elasticity is not related to household wealth, suggesting that price-based rationing can be an effective tool in reducing water usage.
JOURNAL OF ENVIRONMENTAL ECONOMICS AND MANAGEMENT
(2021)
Article
Green & Sustainable Science & Technology
Seul-Ye Lim, Jeoung-Sik Min, Seung-Hoon Yoo
Summary: This study estimates the demand function for residential heat using the price sensitivity measurement technique in South Korea, obtaining price and income elasticities. These values can be utilized for decision-making and policy-making related to residential heat management.
Article
Energy & Fuels
Gaurav Kansal, Rajive Tiwari
Summary: Mathematical modelling is used to analyze the impact of demand response programs on electricity market, with a focus on price elasticity and customer participation. The proposed models integrate analytical and stochastic elasticity approaches to simulate load flexibility and accurately model customer behavior.
SUSTAINABLE ENERGY GRIDS & NETWORKS
(2023)
Article
Economics
Jihyo Kim, Soomin Lee, Heesun Jang
Summary: This study analyzes a large-scale Time of Use (TOU) pricing experiment in South Korea. The results show that households effectively reduce peak demand in response to higher prices. However, the price responsiveness of the treatment groups decreased in the post-experimental period, resulting in increased intermediate consumption. This suggests a need to reexamine the price schedule under TOU pricing for social welfare.
Article
Pharmacology & Pharmacy
Mingyue Zhao, Peng Nie, Jing Wu
Summary: This study examined the price elasticity of medicine demand in different therapeutic drug categories and types in China, finding variations in elasticity across drug categories and the impact of quality differences, unfair competition, and illegal rebates on price elasticity. The results showed that anti-tumor and CVD drugs had the least elasticity, while antimicrobial drugs had the most elasticity. This study highlights the role of disease type and drug quality in shaping price elasticity in the Chinese medicine market.
FRONTIERS IN PHARMACOLOGY
(2021)
Article
Economics
Filippo Favero, Luigi Grossi
Summary: Using monthly billing data of 51,177 end-users in Veneto, Italy, this paper examines the elasticity between natural gas demand and price variations. The results indicate that residential users are more responsive to price changes, but the price elasticities for both groups are less than 1%, consistent with findings from other countries.
Article
Thermodynamics
Kabelo Masike, Cobus Vermeulen
Summary: This paper estimates the price and income elasticity coefficients of domestic electricity demand in South Africa from 1980 to 2018. It finds that electricity consumption was unresponsive to price changes when real electricity prices were falling, but the price elasticity coefficient increased markedly when real prices started increasing. Policymakers should take note that aggregate price sensitivity is notably higher when real prices are increasing, potentially leading consumers to switch to alternative energy sources.
Article
Development Studies
David Grover, Claudio R. Lucinda
Summary: Drought can have negative impacts on livelihoods and development outcomes in low- and middle-income countries, necessitating effective policy responses. Research shows that penalty-based water conservation instruments are more effective in drought response compared to reward-based ones. Political considerations may lead to the implementation of ineffective and expensive reward-based instruments, despite their technical inefficacy.
JOURNAL OF DEVELOPMENT STUDIES
(2021)
Article
Economics
Anna Alberini, Levan Bezhanishvili, Milan Scasny
Summary: This study uses the unique electricity pricing system in Georgia to analyze consumer response to price and finds that consumers are responsive to the actual average price, with a price elasticity of 0.3. This has implications for controlling gas-fired electricity imports from neighboring countries.
Article
Environmental Sciences
Qinyun Wang, Xindi Xu, Kaipeng Liang
Summary: This study found that environmental regulation has negative impacts on the revenue and profit of listed companies in the Chinese cement market, mainly due to the relatively large elasticity of market demand preventing enterprises from passing regulatory costs through to consumers. The policy led to an 8% increase in cement prices, but also a 16% decrease in cement consumption.
JOURNAL OF ENVIRONMENTAL MANAGEMENT
(2021)
Article
Green & Sustainable Science & Technology
Ju-Hee Kim, Byoung-Soh Hwang, Seung-Hoon Yoo
Summary: The main cooking and heating fuel in urban South Korea is city gas, which is predominantly natural gas. This study empirically estimates the demand function for residential city gas (RCG) and finds that the demand is inelastic with respect to both price and income changes. The price sensitivity measurement experiment and a nationwide survey were conducted to overcome data limitations, as RCG operators usually do not disclose past performance data and prices are controlled by local governments. This information can be valuable for policy-making related to RCG.
Article
Horticulture
Ariel Soto-Caro, Tianyuan Luo, Feng Wu, Zhengfei Guan
Summary: Sweet potato production has been growing rapidly in the United States, but is facing challenges such as disease outbreaks and adverse weather events. This study examines the price response to supply changes in the sweet potato market and finds that prices are highly sensitive to supply, with North Carolina exerting the largest influence.
Article
Engineering, Electrical & Electronic
Bhuvan Sharma, Nikhil Gupta, K. R. Niazi, Anil Swarnkar
Summary: The study introduces a price-based demand response model to evaluate the overall impact of PBDR on various stakeholders, while addressing the stochastic nature and price elasticity of customer demand. The model proposes dynamic price elasticity to capture customer demand response to real-time price signals, and suggests several demand response indices to assess the impact.
INTERNATIONAL JOURNAL OF ELECTRICAL POWER & ENERGY SYSTEMS
(2022)
Article
Energy & Fuels
Antonio F. Erias, Emma M. Iglesias
Summary: This study provides novel estimates of own-price, cross-price, and income elasticities of natural gas demand from 2005 to 2020 by analyzing a panel of 25 European countries. The research identifies an European Standard Behaviour (ESB) with a strong seasonal component and explores three different patterns within the ESB. The study also reveals the impact of Covid-19 lockdowns on natural gas demand, confirming the double-heating effect.
ENERGY STRATEGY REVIEWS
(2022)
Article
Thermodynamics
Mohammed Abu Eleyan, Abdurrahman Nazif Catik, Mehmet Balcilar, Esra Balli
Summary: This study investigates the long-run time-varying income and price elasticities of oil demand in BRICS countries, finding that oil demand is significantly influenced by real economic activity and oil is considered a necessary commodity in these markets. The findings suggest that price elasticities vary over time and regulations on oil product prices may not effectively control domestic oil demand.