Analysis of the decision-making process of prosumers in the transactive energy market : From the perspective of traditional economics and behavioral economics

In order to implement the concept of green development and realize the solemn commitment of carbon peak and carbon neutral, the energy sector is undergoing reform and innovation from top to bottom On the user side, a large number of consumers equipped with distributed power supply are transformed into “prosumers” who can both produce and consume electricity. With the gradual opening of the electricity market to distributed players, the participants in the emerging market are no longer mere price takers but can participate in the transactive energy market through independent quotations to obtain reasonable remuneration. A seller can sell a surplus to a local customer at a price higher than the feed-in tariff, while a buyer can buy electricity from the local market at a price lower than the real-time tariff. Behavioral economics combines economics and psychology to study the reasons why prosumers deviate from rational assumptions in the decision-making process. This paper will analyze the factors affecting prosumer decision-making, introduce the application theories of traditional economics and behavioral psychology in establishing prosumer models, compare their characteristics, and finally summarize the existing research on prosumer psychological considerations in the process of establishing prosumer models. A thorough understanding of the demand and behavior characteristics of prosumers is beneficial to fully mobilize the market resources they control, design a sustainable transactive energy market mechanism, and realize the economic and efficient use of electricity.