On the satisfaction of peak demand in the certainty case
AbstractThe concept of full-capacity flat-rate equilibrium is explored for a version of the Arrow-Debreu model with time-differentiated goods and production subject to a capacity constraint. The corresponding equilibrium allocations are shown to be inefficient in general. It is also shown that rationing peak demand is Pareto superior to non-rationing.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Mathematical Economics.
Volume (Year): 44 (2008)
Issue (Month): 7-8 (July)
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