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Subjective Well-being Effects for Electric Power Universal Service Recipients in China from a Culture Poverty Perspective
International Journal of Energy and Power Engineering
Volume 4, Issue 1, February 2015, Pages: 32-38
Received: Dec. 20, 2014; Accepted: Jan. 28, 2015; Published: Feb. 3, 2015
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Authors
Hui-ru Zhao, School of Economics and Management, North China Electric Power University, Beijing, China
Hui-juan Huo, School of Economics and Management, North China Electric Power University, Beijing, China
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Abstract
Lack of cultural knowledge, poor livelihood and inappropriate value orientation of electric power universal service recipient groups basically influence their electricity consumption habit in china. In order to assess the effect of power universal service distribution and measure the welfare of recipient groups, this paper researches individual electricity consumption mentality and behavior through behavioral economics theory, establishes a subjective welfare function tracing recipient individual based on cumulative prospect theory , constructs the recipient groups’ subjective welfare function following the traditional social welfare function and researches the influence of the changes of psychological reference points. Through example analysis combined with function feasibility, this paper proves the subjective well-being effect of recipient groups declines when the psychological reference point increases.
Keywords
Electric Power Universal Service, Consumer Psychology, Subjective Well-Being, Cumulative Prospect Theory
To cite this article
Hui-ru Zhao, Hui-juan Huo, Subjective Well-being Effects for Electric Power Universal Service Recipients in China from a Culture Poverty Perspective, International Journal of Energy and Power Engineering. Vol. 4, No. 1, 2015, pp. 32-38. doi: 10.11648/j.ijepe.20150401.15
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