Proceedings of the Conference of Transdisciplinary Federation of Science and Technology
The 4th Conference of Transdisciplinary Federation of Science and Technology
Session ID : 1C1-2
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Host: NPO: Transdisciplinary Federation of Science and Technology

Why people do not accept the increase in the price of electricity?
Some reasons why people prefer rationing to price adjustment.
*Satoshi Kawanishi
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Keywords: market mechanism, fairness, loss aversion, reference point, goodwill
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Abstract
In reaction to the serious shortage in electricity supply caused by the 3.11 earthquake in Tohoku, Japanese society have chosen not the increase in the price of electricity, but the rationing that force the users to decrease their use of electricity. A hypothesis based on behavioral economics is given to explain why people preferred the rationing to the price adjustment.
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© 2011 Transdisciplinary Federation of Science and Technology
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