Modeling Commercial Demand for Water: Exploring Alternative Prices, Instrumental Variables, and Heterogeneity
利用新工具变量估计大型市政供水企业商业用户的用水需求弹性，发现企业对滞后一期平均价格比边际价格更敏感，且不同行业弹性差异显著，对水费收入与供水管理有参考价值。
In this paper, we introduce a previously unused instrumental variable to estimate the elasticity of commercial water demand for firms served by a large municipal utility. We then present evidence that firms are more responsive to one-period lagged average price than marginal price. Finally, we find notable differences in elasticity among different categories of businesses. The findings in this paper are particularly important as water utilities consider how to maintain revenue while coping with limited water supplies and increasing commercial demand. <i></i>