Understanding Reference-Dependent Behaviors in Determining Electricity Consumption of Korean Households: Empirical Evidence and Policy Implications

This paper examines whether reference-dependent preferences play a role in determining household electricity consumption in the Korean context. To do so, we first establish six variables of reference costs based on monthly electricity billing information of the 1040 Korean household survey dataset a...

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Bibliographic Details

Published in:	Energies
Main Authors:	Jiyong Park, Sunghee Choi
Format:	Article
Language:	English
Published:	MDPI AG 2025-05-01
Subjects:	reference cost loss aversion residential electricity consumption Korean case probit regression analysis
Online Access:	https://www.mdpi.com/1996-1073/18/11/2686