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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Web page: http://www.elsevier.com/locate/jmateco
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- Spear, Stephen E., 2003.
"The electricity market game,"
Journal of Economic Theory,
Elsevier, vol. 109(2), pages 300-323, April.
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- Somdeb Lahiri, 2009. "A Note on Optimality of Full-Capacity Flat-Rate Equilibrium," International Journal of Business and Economics, College of Business, and College of Finance, Feng Chia University, Taichung, Taiwan, vol. 8(3), pages 249-253, December.
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