Smart Grid Economics

This book aims to report on a cutting-edge research project of the smart grid in Japan, resting on the three pillars of field experiments, behavioral economics, and big data. The field experiments on the smart grid were conducted in four regions in JapanYokohama city, Toyota city, Keihanna Science City, and Kitakyushu cityover a three-year period from 2012 to 2014 after the Great East Japan Earthquake on March 11, 2011, and the subsequent accident at the Fukushima Nuclear Power Plants. Our focus here is on demand response in the smart grid environment, which we also discuss in the context of power system reforms. The book is intended for undergraduate and graduate students, researchers, policy makers, and business leaders.

Addresses the power crisis following the Great East Japan Earthquake Discussion of field experimental economics as it relates to energy and environmental economics. Explains the next-generation smart grid and dynamic pricing system for policy makers

Autorentext

Takanori Ida is Professor at Graduate School of Economics, Kyoto University, Japan. He received his Ph.D. in economics from Kyoto University. He specializes in behavioral economics and experimental economics. Professor Ida has published many articles in journals such as American Economic Review, American Economic Journal, International Economic Review, and European Economic Review. His major publications include Broadband Economics: Lessons from Japan (Routledge, 2009).

Makoto Tanaka is Professor at the National Graduate Institute for Policy Studies (GRIPS), Japan. He received his Ph.D. in economics from the University of Tokyo. He specializes in energy economics and operations research. Professor Tanaka has published many articles in journals such as American Economic Review, American Economic Journal, European Journal of Operational Research, and IEEE Transactions on Power Systems. He is the author of several books including Economics of Power Systems, International Series inOperations Research & Management Science (Springer, 2022).

Koichiro Ito is Associate Professor at Harris School of Public Policy, the University of Chicago, USA. He received his Ph.D. from the University of California, Berkeley. His research interests lie at the intersection of environmental and energy economics. Professor Ito has published many articles in journals such as American Economic Review, Econometrica, Journal of Political Economy, American Economic Journal, and Review of Economics and Statistics.

Inhalt

Part I Smart Grid Economics.- Chapter 1 Economics of Smart Grid: Smart Grid, Time-dependent Pricing (Dynamic Pricing), Demand Response.- Part II Field Experimental Economics.- Chapter 2 Economics of Field Experiment: History of Field Experiment, especially in Energy and Environmental Economics.- Chapter 3 Dynamic Pricing: Purpose, Design, and Results of Field Experiment of Dynamic Pricing.- Chapter 4 Persistence and Habit Formation: Short-term and Long-term Effects of Conservation Request and Dynamic Pricing.- Chapter 5 Switching Cost and Information Friction: Status Quo Bias and Cognitive Incompleteness of Behavioral Change.- Chapter 6 Social Welfare Analysis: Cost-Benefit Ratio of Installing Smart Grid System.- Part III Toward Power System Restructuring.- Chapter 7 Power System Restructuring and Smart Grids.