DRIVING ENERGY EFFICIENCY WITH BEHAVIOURAL ECONOMICS

Eric Liu

PhD Candidate, Faculty of Business and Economics, Monash University (Zema Scholar)

Supervisors: Prof Erte Xiao, Dr Gordon Leslie

Research interest:  How consumers can be motivated to make more efficient energy choices.

Drawing on his background in economics and psychology, Eric investigates the behavioural and policy drivers behind energy efficiency. His interdisciplinary research combines experimental methods with empirical econometric analysis to explore how consumers can be encouraged to make more efficient energy choices.

Supervised by Professor Erte Xiao and Professor Michael Ward, Eric’s work builds on retail market data to examine consumer decision-making across various energy tariffs. By identifying the economic mechanisms that influence both individual behaviour and market dynamics, he aims to support the design of effective policies that drive sustainable energy consumption.

Eric’s passion for economics grew from a fascination with industrial organisation – how firms and consumers interact in complex markets. The electricity market, in particular, captured his interest for its intricate dynamics, such as retailer competition, price formation, and consumer response. He is especially motivated by the role this research plays in the broader energy transition. With the shift to net zero being one of the defining challenges of our time, Eric sees good market design as critical in enabling cleaner, more efficient energy systems.

For Eric, applying economics to real-world problems like climate change is both meaningful and inspiring. His research not only advances academic understanding but also contributes to public policy efforts aimed at achieving a more sustainable energy future.

“I’m passionate about using economics to enhance public policy, and energy is such a critical factor in sustainability.”