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Optimal pricing and capacity choice for a public service under risk of interruption

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  • Fred Schroyen

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  • Adekola Oyenuga

    ()

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    Abstract

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    File URL: http://hdl.handle.net/10.1007/s11149-011-9146-3
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    Bibliographic Info

    Article provided by Springer in its journal Journal of Regulatory Economics.

    Volume (Year): 39 (2011)
    Issue (Month): 3 (June)
    Pages: 252-272

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    Handle: RePEc:kap:regeco:v:39:y:2011:i:3:p:252-272

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    Web page: http://www.springerlink.com/link.asp?id=100298

    Related research

    Keywords: Service interruption; Rationing; System reliability; Second-best pricing; Capacity choice; Prudence; D11; D24; D45; H42; Q25;

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    References

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    1. George W. Evans, 2001. "Expectations in Macroeconomics. Adaptive versus Eductive Learning," Revue Économique, Programme National Persée, vol. 52(3), pages 573-582.
    2. Louis Eeckhoudt & Harris Schlesinger, 2008. "Changes in Risk and the Demand for Saving," CESifo Working Paper Series 2388, CESifo Group Munich.
    3. Arnaud Reynaud & Céline Nauges, 2001. "Estimation de la demande domestique d'eau potable en France," Revue Économique, Programme National Persée, vol. 52(1), pages 167-185.
    4. Wilson, Robert, 1989. "Ramsey Pricing of Priority Service," Journal of Regulatory Economics, Springer, vol. 1(3), pages 189-202, September.
    5. Stephen Coate & John C. Panzer, 1988. "Public Utility Pricing and Capacity Choice Under Risk: A Rational Expectations Approach," Discussion Papers 780, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    6. Tschirhart, John T, 1980. "On Public Utility Pricing under Stochastic Demand," Scottish Journal of Political Economy, Scottish Economic Society, vol. 27(3), pages 216-34, November.
    7. Lin, Winston T. & Chen, Yueh H. & Chatov, Robert, 1987. "The demand for natural gas, electricity and heating oil in the United States," Resources and Energy, Elsevier, vol. 9(3), pages 233-258, October.
    8. Jean-Jacques Laffont & Jean Tirole, 1993. "A Theory of Incentives in Procurement and Regulation," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262121743, December.
    9. Chao, Hung-po & Wilson, Robert, 1987. "Priority Service: Pricing, Investment, and Market Organization," American Economic Review, American Economic Association, vol. 77(5), pages 899-916, December.
    10. Wilson, Robert B, 1989. "Efficient and Competitive Rationing," Econometrica, Econometric Society, vol. 57(1), pages 1-40, January.
    11. Carlton, Dennis W, 1977. "Peak Load Pricing with Stochastic Demand," American Economic Review, American Economic Association, vol. 67(5), pages 1006-10, December.
    12. Benassy, Jean-Pascal, 1977. " On Quantity Signals and the Foundations of Effective Demand Theory," Scandinavian Journal of Economics, Wiley Blackwell, vol. 79(2), pages 147-68.
    13. Doucet, Joseph A & Roland, Michel, 1993. "Efficient Self-Rationing of Electricity Revisited," Journal of Regulatory Economics, Springer, vol. 5(1), pages 91-100, March.
    14. Woo, Chi-Keung, 1990. "Efficient Electricity Pricing with Self-Rationing," Journal of Regulatory Economics, Springer, vol. 2(1), pages 69-81, March.
    15. Arnaud Reynaud, 2003. "An Econometric Estimation of Industrial Water Demand in France," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 25(2), pages 213-232, June.
    16. Sandmo, Agnar, 1970. "The Effect of Uncertainty on Saving Decisions," Review of Economic Studies, Wiley Blackwell, vol. 37(3), pages 353-60, July.
    17. Brown, Gardner, Jr & Johnson, M Bruce, 1973. "Welfare-Maximizing Price and Output with Stochastic Demand: Reply," American Economic Review, American Economic Association, vol. 63(1), pages 230-31, March.
    18. Hervé Moulin, 2000. "Priority Rules and Other Asymmetric Rationing Methods," Econometrica, Econometric Society, vol. 68(3), pages 643-684, May.
    19. Miles S. Kimball, 1989. "Precautionary Saving in the Small and in the Large," NBER Working Papers 2848, National Bureau of Economic Research, Inc.
    20. Kleindorfer, Paul R & Fernando, Chitru S, 1993. "Peak-Load Pricing and Reliability under Uncertainty," Journal of Regulatory Economics, Springer, vol. 5(1), pages 5-23, March.
    21. Visscher, Michael L, 1973. "Welfare-Maximizing Price and Output with Stochastic Demand: Comment," American Economic Review, American Economic Association, vol. 63(1), pages 224-29, March.
    22. Marchand, M. G., 1974. "Pricing power supplied on an interruptible basis," European Economic Review, Elsevier, vol. 5(3), pages 263-274.
    23. Severin Borenstein, 2007. "Customer Risk from Real-Time Retail Electricity Pricing: Bill Volatility and Hedgability," The Energy Journal, International Association for Energy Economics, vol. 0(Number 2), pages 111-130.
    24. Crew, Michael A & Fernando, Chitru S & Kleindorfer, Paul R, 1995. "The Theory of Peak-Load Pricing: A Survey," Journal of Regulatory Economics, Springer, vol. 8(3), pages 215-48, November.
    25. Meyer, Robert A, 1975. "Monopoly Pricing and Capacity Choice under Uncertainty," American Economic Review, American Economic Association, vol. 65(3), pages 326-37, June.
    26. EECKHOUDT, Louis & ETNER, Johanna & SCHROYEN, Fred, . "The values of relative risk aversion and prudence: A context-free interpretation," CORE Discussion Papers RP -2162, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    27. Turvey, Ralph, 1970. "Public Utility Pricing and Output Under Risk: Comment," American Economic Review, American Economic Association, vol. 60(3), pages 485-86, June.
    28. Rothschild, Michael & Stiglitz, Joseph E., 1970. "Increasing risk: I. A definition," Journal of Economic Theory, Elsevier, vol. 2(3), pages 225-243, September.
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    Cited by:
    1. Marianne Lefebvre, 2011. "Sharing Rules for Common-Pool Resources when Self-insurance is Available: an Experiment," Working Papers 11-22, LAMETA, Universtiy of Montpellier, revised Jun 2012.

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