| 摘要 | ABSTRACT
1. Research Purpose
In order to achieve the 2030 target of reducing greenhouse gas emissions by 37% from the business-as-usual (BAU) level, energy efficiency improvements are necessary, not optional. Korea has been experienced a slower energy efficiency improvement compared to major advanced countries, and thus, more aggressive energy efficiency policies are needed. For example, after the 2008 financial crisis, the energy intensity of major advanced countries has improved by 1.0 ~ 2.1% per year, but Korea's energy intensity has improved by an annual average of 0.25% (KEEI, 2016). Given the circumstances, the Korean government is required to implement a full-scale energy efficiency policy.
This study aims to suggest how to diversify policy measures for improving energy efficiency by utilizing the preference characteristics of economic agents from the perspective of behavioral economics. The energy inefficiency is primarily caused by market imperfections such as price distortions and lack of information, but also by individual decision-making characteristics that are difficult to be explained with market imperfections alone. Although a lot of studies has been conducted on energy efficiency policies to address market imperfections, discussion have recently begun on policies to address the energy inefficiency that is due to the inherent characteristics of individual decision-making. In particular, there has been a lack of research in Korea that systematically investigate the relationship between individual decision-making characteristics and energy inefficiency. Behavioral economics based on the concept of bounded rationality and social preference has been acknowledged for its contribution to effectively explain the anecdotes of individual decision-making. Using evidences provided by behavioral economics to theoretically systematize the energy inefficiency, this study investigates individual preference characteristics affecting energy inefficiency through extensive literature review and empirical analysis. The results are expected to be applied to policy design for energy efficiency improvements at the individual level.
2. Summary
Ch. 2 systematically organizes the energy inefficiency resulting from individual decision-making in terms of behavioral economics. We examine how time and risk preference characteristics stemming from bounded rationality of economic agents affect energy efficiency decision- making. It also examines the effect of societal preference characteristics relevant with altruism on energy efficiency decision- making. In addition, we reviews literature that examines the effect of time, risk, and social preference characteristics (hereinafter referred to as ��preference characteristics��) on energy efficiency decision making. Based on literature review, we raised the research topic that the more discounted the future, the less risky, the less internalized negative externalities accompanied by energy consumption, the more conservative the energy efficiency decision.
Ch. 3 presents the empirical results of the effects of Korean people��s preference characteristics on energy retrofit decisions. First, in order to gather the data, we implemented a well designed survey on Korean households about their preference characteristics, demographic characteristics, and energy retrofit decisions. The data is analyzed to find out how preference characteristics affect the possibility of energy retrofit decisions. The results indicate that people who have strong sense of moral obligation are highly probable of having experiences of energy retrofits in the past. People who discount future values less, are risk less, have strong sense of moral obligation, and think their energy expenses are greater compared to similar households are highly probable to have a plan for energy retrofits in the future. The results are consistent with the projected effects of preference characteristics on energy efficiency decisions in the previous chapter.
Ch. 4 examines domestic and foreign policy cases to make people use energy efficiently by considering preference characteristics and then, discusses how to improve energy efficiency policies. Frist, we review the U. K. Green Deal and the U. S. PACE financing, which are the representative examples of loan programs attracting energy retrofits in consideration of time and risk preference characteristics. Based on this policy review, we derive policy implications for attracting voluntary energy retrofits in Korea. Next, we review examples of energy bills - including the Home Energy Report (HER) developed by the OPOWER and the energy-saving bill for apartment maintenance fees in Korea - that attract energy-saving and investments in energy efficiency by stimulating social preference characteristics. Based on this review, we propose a policy direction to extend the dissemination of energy-saving bill.
Ch. 5 presents a summary of the results, policy implications and future research directions. The policy implication is that the arguments related to the preference characteristics suggested by behavioral economics can be utilized to make people improve energy efficiency easily and voluntarily. Considering how much you discount future value and what attitude you have on risk will be effective in raising the cost effectiveness of energy efficiency policies and attracting people��s participation. Strengthening personal norms such as moral obligation, and attitudes toward environmental / climate change issues have a positive impact on making people use energy efficiently, either. In addition, the effect of information provision on energy consumption and energy efficiency will be maximized when the stimulation of social preference stimulus is appropriately combined. |
