Author: Stanford University. Center for Research in Economic Growth
Publisher:
ISBN:
Category : Monopolies
Languages : en
Pages : 102
Book Description
The Regulation of Multiproduct Firms
Author: Stanford University. Center for Research in Economic Growth
Publisher:
ISBN:
Category : Monopolies
Languages : en
Pages : 102
Book Description
Publisher:
ISBN:
Category : Monopolies
Languages : en
Pages : 102
Book Description
The Regulation of Multiproduct Firms
Author: Ronald Ray Braeutigam
Publisher:
ISBN:
Category : Econometrics
Languages : en
Pages : 382
Book Description
Publisher:
ISBN:
Category : Econometrics
Languages : en
Pages : 382
Book Description
The Regulation of Multiproduct Firms
Rate of Return Regulation of Multiproduct Firms
Benchmark Regulation of Multiproduct Firms
Author: Wesley W. Wilson
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
A number of formerly regulated multiproduct industries have a transitional or permanent residual regulatory mandate to protect consumers from "excessive" prices. The legislation that deregulated most rail rates contains a statutory mandate for the regulator to protect shippers from "excessive" prices. Fulfilling this mandate has been challenging because of the cost and administrative burden to shippers in obtaining regulatory relief. Moreover, as argued by Wilson and Wolak (2016), the existing rate relief mechanism is based on a cost concept that does not reflect the actual incremental cost of a shipment and it does not adequately address the question of what constitutes an "excessive" rate for a multiproduct firm with significant common costs. This paper analyzes a benchmark price approach to identifying "excessive" prices in multiproduct industries subject to residual price regulation. Our empirical analyses demonstrate how the mechanism can be used to fulfill the statutory mandate to protect shippers from "excessive" prices at substantially lower cost, with less administrative burden, and without significant adverse consequences for the long-term financial viability of the railroads.
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
A number of formerly regulated multiproduct industries have a transitional or permanent residual regulatory mandate to protect consumers from "excessive" prices. The legislation that deregulated most rail rates contains a statutory mandate for the regulator to protect shippers from "excessive" prices. Fulfilling this mandate has been challenging because of the cost and administrative burden to shippers in obtaining regulatory relief. Moreover, as argued by Wilson and Wolak (2016), the existing rate relief mechanism is based on a cost concept that does not reflect the actual incremental cost of a shipment and it does not adequately address the question of what constitutes an "excessive" rate for a multiproduct firm with significant common costs. This paper analyzes a benchmark price approach to identifying "excessive" prices in multiproduct industries subject to residual price regulation. Our empirical analyses demonstrate how the mechanism can be used to fulfill the statutory mandate to protect shippers from "excessive" prices at substantially lower cost, with less administrative burden, and without significant adverse consequences for the long-term financial viability of the railroads.
A Price Adjustment Procedure for the Regulation of a Multiproduct Monopoly Firm
Author: Anthony M. Marino
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 16
Book Description
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 16
Book Description
The Multiproduct Firm Quality Choice and Regulation
A regulatory adjustment process for optimal pricing by multiproduct monopoly firms
Multiproduct Pricing Made Simple
Author: Mark Armstrong
Publisher:
ISBN:
Category : Consumers' preferences
Languages : en
Pages : 29
Book Description
We study multiproduct firms in the contexts of unregulated monopoly, regulated monopoly and Cournot oligopoly. Using the concept of consumer surplus as a function of quantities (rather than prices), we present simple formulas for optimal prices and show that Cournot equilibrium exists and corresponds to a Ramsey optimum. We then discuss a tractable class of preferences that involve a generalized form of homotheticity. Profit-maximizing quantities are proportional to efficient quantities. We discuss optimal monopoly regulation when the firm has private information about its cost vector, and find situations where optimal regulation leaves relative price decisions to the firm.
Publisher:
ISBN:
Category : Consumers' preferences
Languages : en
Pages : 29
Book Description
We study multiproduct firms in the contexts of unregulated monopoly, regulated monopoly and Cournot oligopoly. Using the concept of consumer surplus as a function of quantities (rather than prices), we present simple formulas for optimal prices and show that Cournot equilibrium exists and corresponds to a Ramsey optimum. We then discuss a tractable class of preferences that involve a generalized form of homotheticity. Profit-maximizing quantities are proportional to efficient quantities. We discuss optimal monopoly regulation when the firm has private information about its cost vector, and find situations where optimal regulation leaves relative price decisions to the firm.
Economic Regulation
Author: Paul L. Joskow
Publisher: Edward Elgar Publishing
ISBN:
Category : Business & Economics
Languages : en
Pages : 744
Book Description
This collection of readings on the industries that are economically regulated (sometimes referred to as natural monopolies) includes both theoretical and empirical articles that discuss topics such as efficient pricing for natural monopolies, including peak-load pricing, and the effects of economic regulation in practice, examining regulatory reform in a variety of industries. Joskow (economics and management, MIT) includes essays by economists such as Richard Posner, William Baumol, Nancy L. Rose, and John Vickers. No subject index. Annotation copyrighted by Book News, Inc., Portland, OR
Publisher: Edward Elgar Publishing
ISBN:
Category : Business & Economics
Languages : en
Pages : 744
Book Description
This collection of readings on the industries that are economically regulated (sometimes referred to as natural monopolies) includes both theoretical and empirical articles that discuss topics such as efficient pricing for natural monopolies, including peak-load pricing, and the effects of economic regulation in practice, examining regulatory reform in a variety of industries. Joskow (economics and management, MIT) includes essays by economists such as Richard Posner, William Baumol, Nancy L. Rose, and John Vickers. No subject index. Annotation copyrighted by Book News, Inc., Portland, OR