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α: calibrated so average coauthorship-adjusted count equals average raw count
Spurred in part by growing production from renewable sources and adoption of electric vehicles, time-variant pricing programs for electricity are increasingly being used to influence the shape of residential demand. The most common time-variant prices are time-of-use (TOU) prices, which vary by hour of day, and event-based prices, which take effect during idiosyncratic “critical” events. We present evidence on the effects of TOU prices and event-based prices when implemented in isolation versus simultaneously. The key finding is that time-variant prices reduce demand during critical events by 19% when event-based pricing is implemented in isolation, but only 5% when TOU and event-based prices are implemented together, despite both price schemes creating similar financial incentives. The results suggest that price complexity may dull consumer responsiveness to price signals.