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Open AccessArticle

The Effects of Dynamic Pricing of Electric Power on Consumer Behavior: A Propensity Score Analysis for Empirical Study on Nushima Island, Japan

1
Graduate School of Economics, Ritsumeikan University, 1-1-1 Noji-Higashi, Kusatsu, Shiga 525-8577, Japan
2
Faculty of Economics, Ritsumeikan University, 1-1-1 Noji-Higashi, Kusatsu, Shiga 525-8577, Japan
*
Author to whom correspondence should be addressed.
Energies 2018, 11(8), 2175; https://doi.org/10.3390/en11082175
Received: 20 July 2018 / Revised: 17 August 2018 / Accepted: 18 August 2018 / Published: 20 August 2018
(This article belongs to the Special Issue Demand Response in Electricity Markets)
This study aimed to investigate the change of consumer behavior in electric power consumption after the application of dynamic pricing via real-time feedback. Afield experiment of dynamic pricing was carried out on Nushima Island, which is located in Hyogo Prefecture in central Japan. The panel data of hourly electric power consumption among 50 households (including 22 control households and 28 treated households) were collected from a baseline survey (14 days before the dynamic pricing experiment was conducted) and during the 14-day experimental period. Propensity score analysis with local linear matching was employed to analyze the average treatment effects of dynamic pricing on consumer behavior. The results report that dynamic pricing plays a crucial role in reducing consumers’ electric power consumption—by 9.6% compared to the pre-experimental period. View Full-Text
Keywords: dynamic pricing; demand response; propensity score analysis; local linear matching dynamic pricing; demand response; propensity score analysis; local linear matching
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Ho, T.T.; Shinkuma, S.; Shimada, K. The Effects of Dynamic Pricing of Electric Power on Consumer Behavior: A Propensity Score Analysis for Empirical Study on Nushima Island, Japan. Energies 2018, 11, 2175.

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