Existence of Sustainable Prices for Natural Monopoly Outputs
AbstractThis paper discusses optimal pricing for a natural monopoly firm when one or more of its markets are open to entry by rival firms. It is argued that optimal prices must be chosen from the set of sustainable prices. Sufficient conditions for sustainable prices to exist are then discussed. Finally some rules are presented for choosing a particular price vector from the set of sustainable prices.
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Bibliographic InfoArticle provided by The RAND Corporation in its journal Bell Journal of Economics.
Volume (Year): 12 (1981)
Issue (Month): 1 (Spring)
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- Leonard J. Mirman & Yair Tauman & Israel Zang, 1985.
"Supportability, Sustainability, and Subsidy-Free Prices,"
RAND Journal of Economics,
The RAND Corporation, vol. 16(1), pages 114-126, Spring.
- Leonard J. Mirman, 1983. "Supportability, Sustainability and Subsidy Free Prices," Discussion Papers 563, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Vincent Iehlé, 2004. "Stable pricing in monopoly and equilibrium-core of cost games," Cahiers de la Maison des Sciences Economiques b05023, Université Panthéon-Sorbonne (Paris 1).
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