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Turning on the Lights: A Meta-Analysis of Residential Electricity Demand Elasticities

Published online by Cambridge University Press:  28 April 2015

James A. Espey  and
Molly Espey
James A. Espey
Affiliation:
Clemson Institute for Economic & Community Development, Clemson University, Clemson, SC
Molly Espey
Affiliation:
Department of Applied Economics and Statistics, Clemson University, Clemson, SC
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Abstract

Meta-analysis is used to quantitatively summarize previous studies of residential electricity demand to determine if there are factors that systematically affect estimated elasticities. In this study, price and income elasticities of residential demand for electricity from previous studies are used as the dependent variables, with data characteristics, model structure, and estimation technique as independent variables, using both least square estimation of a semilog model and maximum likelihood estimation of a gamma model. The findings of this research can help better inform public policy makers, regulators, and utilities about the responsiveness of residential electricity consumers to price and income changes.

Keywords

electricity demandincome elasticitymeta-analysisprice elasticityresidential electricity demandQ40Q41D12
Type
Articles
Information
Journal of Agricultural and Applied Economics , Volume 36 , Issue 1 , April 2004 , pp. 65 - 81
Copyright
Copyright © Southern Agricultural Economics Association 2004

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