Ma, Xunzhou; Zhang, Shiqiu; Mu, Quan - In: Water Resources Management 28 (2014) 14, pp. 4895-4909
Economic theory generally assumes that consumers respond to marginal price, which is the price of the last unit of goods consumed, when making economic decisions. However, this assumption may not hold for goods with multi-block rate schedules. This paper explores the effects of water price...