Jun.-Prof. Dr. Michael Bucksteeg

One of the key objectives of energy research is the development of explanatory approaches and models to support decision-making processes. Examples of this include the optimizatiion of energy use in production, the evaluation of policy instruments, and the modeling of end user behavior. Researchers often adopt a normative perspective: what are the optimum decisions and what is the optimal design for policy instruments? Analyses based purely on normative models, however, tend to deliver an incomplete picture, because the effectiveness of policy instruments (such as CO₂ taxation or feed-in payments for renewable energies) is dependent on the preferences and associated decision-making behavior of those involved.

One example is the analysis of the influence of the players’ time and risk preferences on investment decisions in the field of renewable energies. (Perceived) intertemporal trade-offs play an important role in this – e.g., do I buy a solar energy system now at a higher price and save on energy costs, or do I wait until the price falls? To better understand the corresponding decisions, an understanding of the emotions present at the moment the decision is made is relevant.

This is where my research comes into play. By taking into account energy system models, I am hoping to make a contribution to a differentiated analysis of policy instruments and market mechanisms as well as a development toward a sustainable energy economy and an improved description of the decision-making behavior of non-central players (especially private households).