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Competitive Pricing

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Author Info
Antonio Villar () (Department of Economics, Universidad Pablo de Olavide)

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Abstract

Competitive pricing is a pricing rule that combines two principles that are present in competitive markets. The profit principle (an action will be chosen only if it yields maximal payoffs), and the scarcity principle (markets make expensive those commodities that restrict production possibilities). It is shown that, under standard assumptions, these principles imply profit maximization at given prices. But also that they can be applied to economies with non-convex production sets (e.g. firms with S-shaped production functions). The chief properties of this pricing rule, as well as the existence and efficiency of the associated equilibria, are analyzed

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File URL: http://www.upo.es/serv/bib/wps/econ0708.pdf
File Format: application/pdf
File Function: First version, 2007
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Publisher Info
Paper provided by Universidad Pablo de Olavide, Departamento de Economía in its series Working Papers with number 07.08.

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Length: 19 pages
Date of creation: May 2007
Date of revision:
Handle: RePEc:pab:wpaper:07.08

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Related research
Keywords: non-convex production sets competitive pricing rule competitive pricing equilibrium.

Find related papers by JEL classification:
D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Dehez, Pierre & Dreze, Jacques, 1988. "Distributive production sets and equilibria with increasing returns," Journal of Mathematical Economics, Elsevier, vol. 17(2-3), pages 231-248, April. [Downloadable!] (restricted)
  2. Hammond, Peter J & Villar, Antonio, 1998. " Efficiency with Non-convexities: Extending the "Scandinavian Consensus" Approaches," Scandinavian Journal of Economics, Blackwell Publishing, vol. 100(1), pages 11-32, March. [Downloadable!] (restricted)
    Other versions:
  3. Dierker, Egbert & Guesnerie, Roger & Neuefeind, Wilhelm, 1985. "General Equilibrium When Some Firms Follow Special Pricing Rules," Econometrica, Econometric Society, vol. 53(6), pages 1369-93, November. [Downloadable!] (restricted)
  4. Bonnisseau, Jean-Marc & Cornet, Bernard, 1988. "Existence of equilibria when firms follow bounded losses pricing rules," Journal of Mathematical Economics, Elsevier, vol. 17(2-3), pages 119-147, April. [Downloadable!] (restricted)
  5. Dierker, Egbert & Neuefeind, Wilhelm, 1988. "Quantity guided price setting," Journal of Mathematical Economics, Elsevier, vol. 17(2-3), pages 249-259, April. [Downloadable!] (restricted)
  6. Dehez, Pierre & Dreze, Jacques, 1988. "Competitive equilibria with quantity-taking producers and increasing returns to scale," Journal of Mathematical Economics, Elsevier, vol. 17(2-3), pages 209-230, April. [Downloadable!] (restricted)
  7. Moriguchi, Chiaki, 1996. "Two-part marginal cost pricing in a pure fixed cost economy," Journal of Mathematical Economics, Elsevier, vol. 26(3), pages 363-385. [Downloadable!] (restricted)
  8. Brown, Donald J., 1991. "Equilibrium analysis with non-convex technologies," Handbook of Mathematical Economics, in: W. Hildenbrand & H. Sonnenschein (ed.), Handbook of Mathematical Economics, edition 1, volume 4, chapter 36, pages 1963-1995 Elsevier. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Antonio Villar Notario & Peter Hammond, 1998. "- Valuation Equlibrium Revisited," Working Papers. Serie AD 1998-24, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie). [Downloadable!]
    Other versions:
  2. Antonio Villar Notario, 2000. "On The Efficiency Of Market Equilibrium In Production Economies," Working Papers. Serie AD 2000-17, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie). [Downloadable!]
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