Analysis on the Business Strategy and Policy for the Alternative Fuel Vehicle: Using Stated Preference Data

Author

Kim, Yeonbae ; Jeong, Gicheol ; Ahn, Jiwoon ; Lee, Jeong-dong

Author_Institution

Seoul Nat. Univ.

Volume

3

fYear

2006

fDate

38899

Firstpage

1440

Lastpage

1449

Abstract

In this paper, we attempt to analyze consumer preference for the alternative-fuel vehicles based on data from a stated preference using the conjoint analysis. Five possible fuel types (gasoline, diesel, CNG, LPG, Hybrid (electricity+gasoline)) are covered in conjoint cards. To estimate and analyze consumer preference, discrete choice model is used. Specifically, Bayesian mixed logit model is used. Based on estimating results, we discuss the business strategy and policy for the alternative fuel vehicle. To analyze the effect of future technical and policy changes on the demand of alternative fuel vehicles, market simulation is conducted

Keywords

Bayes methods; automobile industry; consumer behaviour; government policies; hybrid electric vehicles; industrial economics; petroleum; Bayesian model; CNG; LPG; alternative fuel vehicle; business policy; business strategy; conjoint analysis; consumer preference; diesel; discrete choice model; gasoline; hybrid vehicle; market simulation; mixed logit model; Analytical models; Automobiles; Bayesian methods; Environmentally friendly manufacturing techniques; Fuels; HDTV; Industrial pollution; Oil pollution; Petroleum; Vehicles;

fLanguage

English

Publisher

ieee

Conference_Titel

Technology Management for the Global Future, 2006. PICMET 2006

Conference_Location

Istanbul

Print_ISBN

1-890843-14-8

Type

conf

DOI

10.1109/PICMET.2006.296709

Filename

4077531