A BAYESIAN INTEGRATION OF END-USE METERING AND CONDITIONAL-DEMAND ANALYSIS

Citation
C. Hsiao et al., A BAYESIAN INTEGRATION OF END-USE METERING AND CONDITIONAL-DEMAND ANALYSIS, Journal of business & economic statistics, 13(3), 1995, pp. 315-326
Citations number
15
Categorie Soggetti
Social Sciences, Mathematical Methods",Economics
ISSN journal
07350015
Volume
13
Issue
3
Year of publication
1995
Pages
315 - 326
Database
ISI
SICI code
0735-0015(1995)13:3<315:ABIOEM>2.0.ZU;2-T
Abstract
Traditional methods of estimating kilowatt end uses load profiles may face very serious multicollinearity issues. In this article, a Bayesia n framework is proposed to combine end uses monitoring information wit h the aggregate-load/appliance data to allow load researchers to deriv e more accurate load shapes. Two variants are suggested: The first one uses the raw end-use metered data to construct the prior means and va riances. The second method uses actual end-use data to construct the p riors of the parameters characterizing the behavior of end uses of spe cific appliances. From a prediction perspective, the Bayesian methods consistently outperform the predictions generated from conventional co nditional-demand formulation.