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Séminaire Recherche Sur le campus Advanced economics Economie

Advanced seminar in Economics - Nicolai Kuminoff (Arizona State University)

Socially Efficient Menu Design for Residential Electricity Plans

Published on 19 Aug 2024
Audience
Activities for everyone
Place
Extranef, 109
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Registration deadline : 25 Sep 2024

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We study how to design a menu of electricity price schedules to steer a population of heterogeneous households to shift consumption to periods when the marginal social cost of generation is lower. We provide market-based evidence on how households sort over a large menu of static and dynamic plans and adjust their consumption in response to hourly price changes. The results guide our development of a new model of plan choice and consumption, which we estimate and use to evaluate counterfactual menu designs. Our analysis uses administrative data on a dynamic panel of eight thousand households making 750 million consumption decisions.


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