OPTIMAL PUBLIC UTILITY PRICING - A GENERAL EQUILIBRIUM-ANALYSIS
成果类型：
Article
署名作者：
KAMIYA, K
刊物名称：
JOURNAL OF ECONOMIC THEORY
ISSN/ISSBN：
0022-0531
DOI：
10.1006/jeth.1995.1054
发表日期：
1995
页码：
548-572
关键词：
摘要：
In contrast to general equilibrium models with convex technologies, marginal cost pricing equilibria are not necessarily Pareto optimal in general equilibrium models with increasing returns to scale (or nonconvex) technologies. In this paper, we consider an economy with several consumers, several convex firms, and several natural monopolies with nonconvex technologies. The purpose of this paper is to show that if the natural monopolies are regulated to follow a certain nonlinear pricing rule, then under mild conditions the equilibrium allocations are Pareto optimal and individually rational, and the natural monopolies break even in equilibria. We also present sufficient conditions for the existence of equilibria. (C) 1995 Academic Press, Inc.
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