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Pareto-Superior Nonlinear Outlay Schedules

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  • Robert D. Willig
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    Abstract

    An outlay schedule gives the expenditures required of consumers for the purchase of different quantities of a good or service. For any uniform price unequal to marginal cost, there is a nonlinear outlay schedule that is preferred by each consumer and that yields greater vendor profit. In fact, Pareto efficiency requires an outlay schedule that offers the largest consumer a marginal price equal to marginal cost. A nonlinear outlay schedule can only be effective if the product cannot be readily traded among consumers and if the vendor can monitor individuals' total purchases. Many public utilities meet these criteria.

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    Bibliographic Info

    Article provided by The RAND Corporation in its journal Bell Journal of Economics.

    Volume (Year): 9 (1978)
    Issue (Month): 1 (Spring)
    Pages: 56-69

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    Handle: RePEc:rje:bellje:v:9:y:1978:i:spring:p:56-69

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    Cited by:
    1. Christine Brandst├Ątt & Gert Brunekreeft & Nele Friedrichsen, 2011. "Improving Investment Coordination in Electricity Networks Through Smart Contracts," Bremen Energy Working Papers 0010, Bremer Energie Institut.
    2. Sara Hsu & David Kiefer, 2005. "Perfect Price Discrimination is not So Perfect," Working Paper Series, Department of Economics, University of Utah 2005_04, University of Utah, Department of Economics.
    3. Evangelinos, Christos, 2013. "Infrastrukturpreise: Eine normativ-theoretische Analyse," Discussion Papers 1/2013, Dresden University of Technology, Faculty of Transportation and Traffic Sciences "Friedrich List", Institute for Transport and Economics.
    4. repec:spo:wpecon:info:hdl:2441/7172 is not listed on IDEAS

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