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Abstract ▼ AI-Helper

The purpose of this paper is to review the methodologies to measure and evaluate the socio-economic values of the long-range forecasts in the sector of energy industry, and to extract implications for studying on evaluation of the long-range forecasts in Korea. The researches on the socio-economic...

The purpose of this paper is to review the methodologies to measure and evaluate the socio-economic values of the long-range forecasts in the sector of energy industry, and to extract implications for studying on evaluation of the long-range forecasts in Korea. The researches on the socio-economic evaluation of the long-range forecasts can be categorized into four according to methodologies: decision-analytic models, descriptive decision studies, prototype decision-making models, and normative market models. These kinds of the evaluation researches varied in terms of the detailed evaluation models and algorithms. Further, it was found that the evaluation results on the socio-economic values of the long-range forecasts varied according to the research objects and scopes. The overview of the methodologies will allow us the more quantitative and systematic evaluation of the long-range forecasts beyond the abstract and vague expectation of the long-range forecast effects.

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