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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. Rothengatter, Werner, 2003. "How good is first best? Marginal cost and other pricing principles for user charging in transport," Transport Policy, Elsevier, vol. 10(2), pages 121-130, April.
    2. Marques, Rui Cunha & Berg, Sanford V, 2010. "Revisiting the strengths and limitations of regulatory contracts in infrastructure industries," MPRA Paper 32890, University Library of Munich, Germany.
    3. Carmona, Miguel, 2010. "The regulatory function in public-private partnerships for the provision of transport infrastructure," Research in Transportation Economics, Elsevier, vol. 30(1), pages 110-125.
    4. Sherman, Roger & Visscher, Michael, 1982. "Rate-of-Return Regulation and Two-Part Tariffs," The Quarterly Journal of Economics, MIT Press, vol. 97(1), pages 27-42, February.
    5. Salies, E. & Waddams Price, C., 2003. "Pricing Structures in the Deregulated UK Electricity Market," Working Papers 03/04, Department of Economics, City University London.
    6. Steffen Hoernig & Ingo Vogelsang, 2012. "The Ambivalence of Two-Part Tariffs for Bottleneck Access," FEUNL Working Paper Series wp568, Universidade Nova de Lisboa, Faculdade de Economia.
    7. 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.
    8. 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.
    9. Amrstong, Mark & Cowan, Simon & Vickers, John, 1995. "Nonlinear pricing and price cap regulation," Journal of Public Economics, Elsevier, vol. 58(1), pages 33-55, September.
    10. van Vuuren, Daniel, 2002. "Optimal pricing in railway passenger transport: theory and practice in The Netherlands," Transport Policy, Elsevier, vol. 9(2), pages 95-106, April.
    11. 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.
    12. Deb, Kaushik & Filippini, Massimo, 2011. "Estimating welfare changes from efficient pricing in public bus transit in India," Transport Policy, Elsevier, vol. 18(1), pages 23-31, January.
    13. Chuang, John Chung-I & Sirbu, Marvin A., 1999. "Optimal bundling strategy for digital information goods: network delivery of articles and subscriptions," Information Economics and Policy, Elsevier, vol. 11(2), pages 147-176, July.
    14. repec:spo:wpecon:info:hdl:2441/7172 is not listed on IDEAS

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