In this study, we apply the ordered logit model to estimate the individual household electricity demand in Korea, using the energy census data conducted by Korea Energy Economics Institute in 1990. Our analysis is based on the disaggregate micro data, while most of the other studies on residential electricity demand use aggregate data. We extract the representative household behaviour for electricity demand. We propose how to aggregate the residential electricity demand from this disaggregate analysis by applying the probability model. This method provides us reasonably accurate values, comparing with the actual ones.
All Science Journal Classification (ASJC) codes
- Economics and Econometrics