Journal of Economic Structures

The Official Journal of the Pan-Pacific Association of Input-Output Studies (PAPAIOS)

Table 3 Estimation results of multinomial logit model (economic incentive rules)

From: Which dynamic pricing rule is most preferred by consumers?—Application of choice experiment

Attributes	Economic incentive
	TOU		CPP		RTP
	Time-of-use rate		Critical peak price		Real-time price
	Estimate	t value	Estimate	t value	Estimate	t value
Fee	0.00000004	0.03	−0.0000	−1.61	−0.0000	−0.43
Knowledge	0.0063***	3.63	0.0098***	5.45	−0.0031*	−1.75
All	−0.5624***	−25.33	−0.4675***	−19.98	−0.2586***	−11.14
Family	−0.0400***	−3.94	0.0242**	2.33	0.0336***	3.35
Age	−0.0024***	−3.95	−0.0009	−1.37	0.0016**	2.55
Gender	0.0158	1.01	0.0679***	4.17	0.0923***	5.86
Education	0.0825***	18.68	0.0706***	15.39	0.0756***	17.08
Income	0.0002***	7.06	0.0002***	6.16	0.0003***	10.61
Risk	−0.0184	−1.48	0.0142	1.11	0.0543***	4.39
Tokyo	0.0350**	2.12	0.0560***	3.27	0.0641***	3.90
Time	−0.0873***	−5.30	−0.1109***	−6.44	−0.1364***	−8.21
Ownership	0.0373**	2.15	−0.0930***	−5.17	−0.0144	−0.83
Three generations	−0.2100***	−6.57	−0.1505***	−4.59	−0.3250***	−10.07
Single-life	−0.1861***	−6.16	−0.1060***	−3.39	−0.1142***	−3.77
Month	−0.0000***	−5.85	0.0000***	2.83	−0.0000***	−5.16
First	0.0000**	2.49	−0.0000**	−2.20	−0.0000**	−2.45
Constants	0.1435**	2.20	−0.2657***	−3.92	−0.4735***	−7.21

* Significant at the 10% level; ** significant at the 5% level; *** significant at the 1% level. Log likelihood is −351,225.27, and χ ² (80) is 3411.29

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