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Consumer Demand and Welfare under Increasing Block Pricing

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Author Info
Panos Pashardes
Soteroula Hajispyrou

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Abstract

This paper argues that an increasing block pricing structure needs to be supplemented by allowances for household size and composition to be equitable. Household behaviour is modelled as the outcome of a two-stage budgeting resulting in an integrable water demand model. The welfare effects of block pricing are studied using the concept of relative equivalence scale, modified to allow for the dependence of price on household size and composition. We use individual household data to estimate residential demand for water, provide empirical illustration of the welfare effects of increasing block pricing on demographically different households and show how these effects can be compensated.

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File URL: http://www.econ.ucy.ac.cy/papers/0207.pdf
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Paper provided by University of Cyprus Department of Economics in its series University of Cyprus Working Papers in Economics with number 0207.

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Length: 22 pages
Date of creation: May 2002
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Handle: RePEc:ucy:cypeua:0207

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Web page: http://www.econ.ucy.ac.cy

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Keywords: relative equivalence scales price endogeneity demand for water

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  1. Michael, Michael S & Hatzipanayotou, Panos, 1999. "General Equilibrium Effects of Import Constraints under Variable Labour Supply, Public Goods and Income Taxation," Economica, London School of Economics and Political Science, vol. 66(263), pages 389-401, August. [Downloadable!] (restricted)
  2. Haliassos, Michael, 1994. "On Perfect Foresight Models of a Stochastic World," Economic Journal, Royal Economic Society, vol. 104(424), pages 477-91, May. [Downloadable!] (restricted)
  3. Dickens, Richard & Fry, Vanessa & Pashardes, Panos, 1993. "Non-linearities and Equivalence Scales," Economic Journal, Royal Economic Society, vol. 103(417), pages 359-68, March. [Downloadable!] (restricted)
  4. Cukierman, Alex & Kalaitzidakis, Pantelis & Summers, Lawrence H. & Webb, Steven B., 1993. "Central bank independence, growth, investment, and real rates," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 39, pages 95-140, December. [Downloadable!] (restricted)
  5. Andreou, Elena & Osborn, Denise R & Sensier, Marianne, 2000. "A Comparison of the Statistical Properties of Financial Variables in the USA, UK and Germany over the Business Cycle," Manchester School, University of Manchester, vol. 68(4), pages 396-418, Special I. [Downloadable!] (restricted)
  6. Lyssiotou, Panayiota, 1997. "Comparison of Alternative Tax and Transfer Treatment of Children Using Adult Equivalence Scales," Review of Income and Wealth, Blackwell Publishing, vol. 43(1), pages 105-17, March.
  7. Pantelis Kalaitzidakis & Theofanis P. Mamuneas & Thanasis Stengos, 2000. "A non-linear sensitivity analysis of cross-country growth regressions," Canadian Journal of Economics, Canadian Economics Association, vol. 33(3), pages 604-617, August. [Downloadable!] (restricted)
  8. Panayiota Lyssiotou, 2000. "Dynamic analysis of British demand for tourism abroad," Empirical Economics, Springer, vol. 25(3), pages 421-436. [Downloadable!] (restricted)
  9. Pashardes, Panos, 1995. "Equivalence scales in a rank-3 demand system," Journal of Public Economics, Elsevier, vol. 58(1), pages 143-158, September. [Downloadable!] (restricted)
  10. Haliassos, Michael & Tobin, James, 1990. "The macroeconomics of government finance," Handbook of Monetary Economics, in: B. M. Friedman & F. H. Hahn (ed.), Handbook of Monetary Economics, edition 1, volume 2, chapter 17, pages 889-959 Elsevier. [Downloadable!] (restricted)
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  11. Hassapis, Christis & Pittis, Nikitas & Prodromidis, Kyprianos, 1999. "Unit roots and Granger causality in the EMS interest rates: the German Dominance Hypothesis revisited," Journal of International Money and Finance, Elsevier, vol. 18(1), pages 47-73, January. [Downloadable!] (restricted)
  12. Michael Haliassos & Alexander Michaelides, 2003. "Portfolio Choice and Liquidity Constraints," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 44(1), pages 143-177, February. [Downloadable!] (restricted)
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  13. Panayiota Lyssiotou & Panos Pashardes & Thanasis Stengos, 2002. "Age effects on consumer demand: an additive partially linear regression model," Canadian Journal of Economics, Canadian Economics Association, vol. 35(1), pages 153-165, February. [Downloadable!] (restricted)
  14. Pashardes, Panos, 1993. "Bias in Estimating the Almost Ideal Demand System with the Stone Index Approximation," Economic Journal, Royal Economic Society, vol. 103(419), pages 908-15, July. [Downloadable!] (restricted)
  15. Blundell, Richard & Pashardes, Panos & Weber, Guglielmo, 1993. "What Do We Learn About Consumer Demand Patterns from Micro Data?," American Economic Review, American Economic Association, vol. 83(3), pages 570-97, June. [Downloadable!] (restricted)
  16. Eicher, T-S & Kalaitzidakis, P, 1997. "The Human Capital Dimension to Foreign Direct Investment : Training, Adverse Selection and Firm Location," Discussion Papers in Economics at the University of Washington 97-03, Department of Economics at the University of Washington.
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  17. Zacharias, Eleftherios & Williams, Steven R., 2001. "Ex Post Efficiency in the Buyer's Bid Double Auction When Demand Can Be Arbitrarily Larger Than Supply," Journal of Economic Theory, Elsevier, vol. 97(1), pages 175-190, March. [Downloadable!] (restricted)
  18. Panos Hatzipanayotou & Michael S. Michael, 1997. "Real Exchange Rate Effects of Fiscal Expansion under Trade Restrictions," Canadian Journal of Economics, Canadian Economics Association, vol. 30(1), pages 42-56, February. [Downloadable!] (restricted)
  19. Mamuneas, Theofanis P., 1999. "Spillovers from publicly financed R&D capital in high-tech industries," International Journal of Industrial Organization, Elsevier, vol. 17(2), pages 215-239, February. [Downloadable!] (restricted)
  20. Luigi Guiso & Michael Haliassos & Tullio Jappelli, 2000. "Household Portfolios: An International Comparison," CSEF Working Papers 48, Centre for Studies in Economics and Finance (CSEF), University of Salerno, Italy. [Downloadable!]
  21. Lyssiotou, Panayiota & Pashardes, Panos & Stengos, Thanasis, 1999. "Preference Heterogeneity and the Rank of Demand Systems," Journal of Business & Economic Statistics, American Statistical Association, vol. 17(2), pages 248-52, April.
  22. Spanos, Aris, 1995. "On theory testing in econometrics : Modeling with nonexperimental data," Journal of Econometrics, Elsevier, vol. 67(1), pages 189-226, May. [Downloadable!] (restricted)
  23. Haliassos, Michael & Bertaut, Carol C, 1995. "Why Do So Few Hold Stocks?," Economic Journal, Royal Economic Society, vol. 105(432), pages 1110-29, September. [Downloadable!] (restricted)
  24. Sofronis Clerides & Saul Lach & James Tybout, 1996. "Is "Learning-by-Exporting" Important? Micro-Dynamic Evidence from Colombia, Mexico and Morocco," NBER Working Papers 5715, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  25. Haliassos, Michael & Hassapis, Christis, 2001. "Non-expected Utility, Saving and Portfolios," Economic Journal, Royal Economic Society, vol. 111(468), pages 69-102, January. [Downloadable!] (restricted)
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  26. Demetriades, Panicos O & Mamuneas, Theofanis P, 2000. "Intertemporal Output and Employment Effects of Public Infrastructure Capital: Evidence from 12 OECD Economics," Economic Journal, Royal Economic Society, vol. 110(465), pages 687-712, July. [Downloadable!] (restricted)
  27. Sydney C. Ludvigson & Alexander Michaelides, 2001. "Does Buffer-Stock Saving Explain the Smoothness and Excess Sensitivity of Consumption?," American Economic Review, American Economic Association, vol. 91(3), pages 631-647, June. [Downloadable!] (restricted)
  28. Bertaut, Carol C. & Haliassos, Michael, 1997. "Precautionary portfolio behavior from a life-cycle perspective," Journal of Economic Dynamics and Control, Elsevier, vol. 21(8-9), pages 1511-1542, June. [Downloadable!] (restricted)
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  29. Alexander Michaelides & Serena Ng, 1997. "Estimating the Rational Expectations Model of Speculative Storage: A Monte Carlo Comparison of Three Simulation Estimators," Boston College Working Papers in Economics 373, Boston College Department of Economics. [Downloadable!]
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  30. Lyssiotou, Panayiota & Pashardes, Panos & Stengos, Thanasis, 1999. "Testing the rank of Engel curves with endogenous expenditure," Economics Letters, Elsevier, vol. 64(1), pages 61-65, July. [Downloadable!] (restricted)
  31. Hassapis, Christis & Kalyvitis, Sarantis & Pittis, Nikitas, 1999. "Cointegration and joint efficiency of international commodity markets," The Quarterly Review of Economics and Finance, Elsevier, vol. 39(2), pages 213-231. [Downloadable!] (restricted)
  32. Michael, Michael S. & Hatzipanayotou, Panos, 2001. "Welfare effects of migration in societies with indirect taxes, income transfers and public good provision," Journal of Development Economics, Elsevier, vol. 64(1), pages 1-24, February. [Downloadable!] (restricted)
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  33. Spiros Bougheas & Panicos O. Demetriades & Theofanis P. Mamuneas, 2000. "Infrastructure, specialization, and economic growth," Canadian Journal of Economics, Canadian Economics Association, vol. 33(2), pages 506-522, May. [Downloadable!] (restricted)
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