Minimal Adjustment Costs and the Optimal Choice of Inputs Under Time-of-Use Electricity Rates
发现分时电价下多数企业不调整用电行为，但调整的企业变动很大，并用雇佣调整成本模型解释了美国和以色列企业的这种反应模式。
In Time-of-Use(TOU) pricing schemes, utilities charge rates that depend on the time of day and the season of the year at which electricity is used. Estimates of the effects of TOU rates on business customers in the U.S. and Israel demonstrate that most firms do not appear to respond at all to newly introduced TOU rates, but those that do respond make substantial adjustments. In this paper we show that adjustment costs associated with changing the level of employment can explain the observed pattern of behavior in the U.S. and Israel. We apply our model to large industrial firms in Israel and show that it predicts their actual responses to TOU rates quite well.