Passey et al. (2017) used actual energy consumption data of Sydney households to analyse the extent to which different electricity network demand tariffs charge customers according to the cost of their consumption. Among other things, they illustrate that a demand tariff that charges households’ individual monthly peak demand is less likely to be cost-reflective than one applied during the monthly network peak period.  Picture by Nastya Dulhiier, Unsplash Electricity network

There is a spectre haunting our lives, and that is chaos theory. It’s all around us, but we hardly see it. Understanding it gets to the...

Knotek (2007) examined whether the statistical relationship of real output growth with the unemployment rate, as captured by Arthur...

Alfred Marshall’s derivation of ‘consumer surplus’ in his book ‘Principles of Economics’, was one of the first attempts by economists to...