Hybrid KTAB – Economic Modeling

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Project Aim

This research project integrates models of collective decision-making processes in the KAPSARC Toolkit for Behavioral Analysis with economic models, to create hybrid models that endogenously develop and bargain over economic policies. The project will include the formal development of hybrid models and policy-relevant applications to evaluate the utility and effectiveness of the integrated approach.

It is designed to address a general research question:

Key questions

  • How do the short- and medium-term redistributive effects of energy-related policies impact future policy decisions, and in turn shift policy choices and economic outcomes?
  • Will the imposition of a certain level of renewables penetration impact welfare differentially across political stakeholders, creating a feedback loop that will cause a reversal, or other changes, to the renewables penetration target over time?
  • Will changes in the administered price of gas or oil create an economic outcome that results in a positive or negative impact on different classes of households (rich or poor) that, in turn, will create pressure to revise the administered price of gas or oil again?

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