MODELLING CONSUMER BEHAVIOUR ON THE ENERGY MARKET

Abstract

Consumer behavior models make it possible to visually present in charts researched entities and the processes they go through, as well as the changes which occur should some variables which affect those processes change. The objective of this paper is to design a meaningful model which may be employed to describe in detail consumer behavior in the process of purchasing energy. The subject of the research is energy consumers, while its objects are the models which could be employed to describe consumer behavior when consuming energy. The analysis we conducted indicated that in order to accomplish our objective we need to account for emotional responses, norms and social factors and major economic variables (prices, incomes, prices of substitute goods).