This paper tries to analyze electricity markets from the point of view of standard microeconomic theory.
The research paper focuses on the question what role information distribution and information disclosure play for the demand for green electricity products. In the first part of the paper there are several assumptions made about the characteristics of electricity markets and about electricity as consumption good. In the second part the role of information disclosure is evaluated and empirical evidence discussed.
Table of Contents
1 Introduction
2 Characteristics of the electricity market
2.1 General assumptions for the analysis
2.1.1 Electricity as a consumption good
2.1.2 Consumer's preferences
2.2 Electricity Markets Now and Then
2.3 Economic theory prediction and empirical findings
2.3.1 Supply side
2.3.2 Demand side
2.3.3 Empirical findings
3 The role of information disclosure
3.1 Intuition: How could asymmetric information arise in electricity markets?
3.2 What are the consequences of asymmetric information distribution for the demand for green energy?
3.3 Research on consumers' information demand
3.4 Recommended characteristics of information disclosure schemes
3.4.1 Theoretical requirements
3.4.2 Empirical examples
4 Conclusion
References
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