Table 10 Sensitivity analysis of social welfare change by supply elasticities (with demand elasticity ηP = −0.2).
Price elasticity of supply (εP) | Year | Without P&D damage | With P&D damage | Difference in Q (QA-QB, M/T) | Difference in social welfare (□OKEAQA-□OKEBQB, 1 billion KRW) | |||
|---|---|---|---|---|---|---|---|---|
Changed P (PA, KRW/kg) | Changed Q (QA, M/T) | Changed P (PB, KRW/kg) | Changed Q (QB, M/T) | |||||
0.0 | 2030 | 2800 | 85,326 | 2841 | 85,031 | 295 | 6.77 | |
2040 | 4190 | 88,343 | 5368 | 82,760 | 5583 | 116.05 | ||
2050 | 2150 | 93,439 | 2941 | 86,093 | 7345 | 176.42 | ||
0.1 | 2030 | 2800 | 85,326 | 2829 | 85,031 | 295 | 7.28 | |
2040 | 4190 | 88,343 | 5021 | 82,760 | 5583 | 130.39 | ||
2050 | 2150 | 93,439 | 2689 | 86,093 | 7345 | 186.08 | ||
0.2 | 2030 | 2800 | 85,326 | 2822 | 85,031 | 295 | 7.56 | |
2040 | 4190 | 88,343 | 4832 | 82,760 | 5583 | 138.20 | ||
2050 | 2150 | 93,439 | 2567 | 86,093 | 7345 | 191.36 | ||
