Elinder, Mikael; Hu, Xiao; Liang, Che-yuan - 2021
Water is an increasingly scarce resource. It is often distributed such that consumers do not face any marginal cost of … water at zero marginal cost. Using high-frequency data over many years, we analyze how the introduction of apartment …-level metering and billing (IMB) affects hot water consumption. We find that introducing a marginal cost, reflecting the market price …