student research in econ 4389

Interview with Akeh Vesoh (Fall 2023)

Can you briefly describe your research topic and the main objective you’re aiming to achieve?

My research is going to be focused on electric vehicles (EVs) and their impact on energy consumption patterns. I will do this by employing empirical models to estimate this effect in Houston.

What inspired you to choose this particular topic and why do you think it’s relevant in today’s economic context?

I am passionate about finding paths to a cleaner, lower-carbon economy that will help fight the ongoing climate crisis. I find the study of EVs enthralling because of its increasing pertinence globally. The current transition away from fossil fuels to cleaner energy sources must be accelerated in order for us to meet the 2050 net-zero carbon emission goals in place to avoid catastrophic climate  changes. Reaching these targets will mean creating relevant public policy as a tool to implement and incentivize the adoption of greener technologies. However, developing optimal policies to do so cannot be done without a strong understanding of the markets of these technologies.

What are the potential findings you expect from your research, and how might they contribute to the field of economics?

My research presents the opportunity to discover how EV consumer patterns and energy consumption patterns relate at a local level. I expect to find that there is in fact a significant positive relationship between electric vehicle usage and residential energy loads. These findings will add to the growing literature that uses econometrics to build a better understanding of electric vehicle markets and its relationship to related energy markets and contribute to the robust literature that forecasts commodities and studies the behavior of grid operators. 

Can you mention a few key studies or theories that are foundational to your research?

A few foundational studies related to my research include: 

Zivin, Joshua S. Graff, Matthew J. Kotchen, and Erin T. Mansur. ”Spatial and temporal heterogeneity of marginal emissions: Implications for electric cars and other electricity-shifting policies.” Journal of Economic Behavior & Organization 107 (2014): 248-268.

Gillingham, Kenneth, and James H. Stock. “The Cost of Reducing Greenhouse Gas Emissions.” The Journal of Economic Perspectives 32, no. 4 (2018): 53–72.

Holland, Stephen P., Erin T. Mansur, Nicholas Z. Muller, and Andrew J. Yates. “Are There Environmental Benefits from Driving Electric Vehicles? The Importance of Local Factors.” The American Economic Review 106, no. 12 (2016): 3700–3729.

Interview with Richard Guo (Fall 2023)

Can you briefly describe your research topic and the main objective you’re aiming to achieve?

My research topic is evaluating consumers’ willingness to pay for each additional mile of EV range. The main objective is to 1. study how EVs should be priced based on their battery size, and 2. explore the potential EV subsidy application.

What inspired you to choose this particular topic and why do you think it’s relevant in today’s economic context?

The main inspiration for my topic came from my past experience with buying and owning an EV, and the huge variation in pricing versus range. Although there are other factors to consider, range has always remained at the center of focus when it comes to EVs. This focus is particularly relevant in today’s market due to the improvement in technology and increasing competition, and studies conducted 5 to 10 years ago are often out of date.

What are the potential findings you expect from your research, and how might they contribute to the field of economics?

I expect to find a lower willingness to pay for range compared to findings from older studies, but I anticipate that the principle of diminishing returns will still be evident. These findings could contribute significantly to the field of economics by revealing the optimal pricing strategies for EVs in relation to their range, particularly in the area of consumer behavior and market dynamics.

Can you mention a few key studies or theories that are foundational to your research?

In my research, I particularly value the statistical methods proposed in the following papers, as I find them more convincing than choice experiments and surveys in studying consumers’ willingness to pay for range improvement:

American Economic Review - Busse et al., 2013: ’Are Consumers Myopic? Evidence from New and Used Car Purchases’ Energy Policy - 

Greene et al., 2013: "Survey Evidence on the Willingness of US Consumers to Pay for Fuel Economy"

Further foundational studies include:

Resource and Energy Economics - Hidrue et al., 2011: ’Willingness to pay for electric vehicles and their attributes’ Transportation Research Part A - Hackbarth,

Madlener, 2016: ’Willingness to Pay for Alternative Fuel Vehicle Characteristics’