A continuous discount curve would be hard to implement and hard to explain. The two humps will be smaller than the single big hump. The 11:30 hump would be a ra

A continuous discount curve would be hard to implement and hard to explain. The two humps will be smaller than the single big hump. The 11:30 hump would be a race to beat the cutoff. The 13:20 hump is the delaying described in the article. And there's probably still a hump at 12:30, it just doesn't last an hour anymore.