Journal of Korean Society of Water and Wastewater (상하수도학회지)

The Korean Society of Water and Wastewater (대한상하수도학회)
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Panel Estimation of Price Elasticities on Residential Water Demand in Korea

패널자료를 이용한 생활용수 수요의 가격탄력도 분석

  • 박두호 (한국수자원공사 수자원연구원 수자원환경연구소) ;
  • 최한주 (한국수자원공사 수자원연구원 수자원환경연구소)
  • Received : 2006.02.13
  • Accepted : 2006.07.05
  • Published : 2006.08.15
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Abstract

Demand side management(DSM) is the newly raised issues in the water resources management in recent. Many of the policy tools among demand management, the most important measures might be a pricing system. Furthermore, the responses of consumers on the price for water consumption level is the key factor for policy making. Here, we estimated panel data for 167 regions and over 7 years periods in Korea. Compare to other previous studies the price elasticities were somewhat low. The estimated price elasticity was -0.05. It was because the short term estimated period may derive lower elasticities. However, it might be a recent trend after the continuous increment of water pricing and consumers not willing to decrease their residential water consumption with increasing water pricing. According to this results, water saving effect might be much smaller than we expect with pricing policy. However, It does not imply there is no price effects on water consumption and it's still meaningful as a tool of water management.

Keywords

References

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