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A Comparative Analysis of Energy Policy: Europe vs. the US

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Title:A Comparative Analysis of Energy Policy: Europe vs. the US
Authors:Doherty, Kevin
Contributors:Karacaovali, Baybars (advisor)
Economics (department)
Keywords:Elasticity
Energy policy
Europe
United States
Date Issued:2014
Publisher:University of Hawaii at Manoa
Abstract:This paper argues that the elasticity of demand for energy in the US and Europe is the
main driver of their energy related policy. First, elasticity of demand for energy, which is a
measure of how responsive people’s consumption of energy is to changes in energy prices and
people’s income, is broken down into its main components: Population distribution, existing
infrastructure, and historical economic drivers. Next, each subsection of these components are
investigated to show how they affect the elasticity of demand for energy. Finally, the socio-
political climates of both the US and Europe are analyzed to show the manifestation of policy
driven by the elasticity of demand for energy. Due to the high elasticity of demand for energy in
Europe, there exist policies that reflect the population’s ability to substitute for energy saving
alternatives. Likewise, in the United States, there is a relative lack of policies that incentivize
consumers to change their behavior due to the lower elasticity of demand for energy.
Pages/Duration:62 pages
URI:http://hdl.handle.net/10125/61641
Rights:All UHM Honors Projects are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission from the copyright owner.
Appears in Collections: Honors Projects for Economics


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