Anastasia Shcherbakova


Anastasia Shcherbakova is an applied economist with expertise in economics, regulation, and policy of energy, environment, and natural resource markets. Her current research projects focus on firms’ use of non-market strategies in regulated industries, and more broadly on the political economy of resource industries. Professor Shcherbakova’s research on economic, financial, and regulatory questions in electricity, renewables, and oil and gas markets has been published in a number of peer-reviewed energy, environmental, and economic journals. She holds a Ph.D. in Public Policy from the University of Chicago.


“Estimating the Hedging Value of an Energy Exchange in Turkey to a Retail Power Consumer,” with Abdurrahman Kurucak, Energy, Vol. 101(2016), pp. 16-26.

“Exploring shipping inefficiencies in global LNG trade patterns,” with Andrew Kleit and Bagas Dhanurendra, Journal of Energy Markets, Vol. 8(2), pp. 67-86, 2015.

“Revealing climate change opinions through investment behavior: evidence from Fukushima,” with Zhen Lei, Journal of Environmental Economics and Management, Vol. 70 (March 2015), pp.92-108

“The Value of Storage in South Korea's Energy Market: A Hotelling Approach,” with Andrew Kleit and Joohyun Cho, Applied Energy, Vol. 125, pp. 93-102, July 2014.  doi: 10.1016/j.apenergy.2014.03.046

“Effect of increased wind penetration on system prices in Korea's electricity markets,” with Andrew Kleit, Seth Blumsack, Joohyun Cho, and Woonam Lee, Wind Energy, Vol. 17(10), pp. 1469-1482, 2014 doi: 10.1002/we.1645

“Estimation of Environmental Effects of Photovoltaic Generation in Northwest China,” with Mengjia Ren, Frontiers in Energy, Vol. 7(4), pp. 535-543, December 2013. doi: 10.1007/s11708-013-0280-8

“Restructuring and the retail residential market for power in Pennsylvania," with Andrew Kleit and Xu Chen, Energy Policy 46, July 2012, pp. 443-451.

“Common failures of demand response,” with Jin-Ho Kim, Energy 36(2), 2011, pp. 873-880.

Research interests:

Economics of regulation, non-market strategy, political economy of energy, environment, and natural resource markets


PhD, Public Policy, University of Chicago

BA, Economics, Knox College

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