Price elasticity of demand in the EPEX spot market for electricity-New empirical evidence

被引：21
|
作者：
Boente, Werner [1 ,2 ]
Nielen, Sebastian [3 ]
Valitov, Niyaz [1 ]
Engelmeyer, Torben [1 ]
机构：
[1] Univ Wuppertal, Schumpeter Sch Business & Econ, D-42119 Wuppertal, Germany
[2] Univ Wuppertal, Jackstadt Ctr Entrepreneurship & Innovat Res, D-42119 Wuppertal, Germany
[3] Univ Tubingen, Inst Appl Econ Res, D-72074 Tubingen, Germany
来源：
ECONOMICS LETTERS | 2015年 / 135卷
关键词：
Demand for electricity; Price elasticity; Instrumental variable regression;
D O I：
10.1016/j.econlet.2015.07.007
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper provides estimates for the price elasticity of demand in the European Power Exchange (EPEX) day-ahead market for electricity. An institutional change in the year 2010 allows us to use wind speed as an instrumental variable for hourly spot market prices in order to deal with potential endogeneity problems. The average price elasticity of demand covering the years 2010-2014 is about -0.43 and our results point to a decline in its absolute value over time. (c) 2015 Elsevier B.V. All rights reserved.
引用
收藏
页码：5 / 8
页数：4
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