|This centre is a member of The LSE Research Laboratory [RLAB]: CASE | CEE | CEP | SERC | STICERD||Cookies?|
Paper No' TE/2005/488: | Full paper
Save Reference as: BibTeX File | EndNote Import File
Keywords: general equilibrium; fixed-input valuation, nondifferentiable joint costs, Wong-Viner Envelope Theorem, peak-load pricing
JEL Classification: D24; D41; D58
Is hard copy/paper copy available? YES - Paper Copy Still In Print.
This Paper is published under the following series: Theoretical Economics
Share this page: Google Bookmarks | Facebook | Twitter
Abstract:The “short-run approach” calculates long-run producer optima and general equilibria by building on short-run solutions to the producer’s profit maximization problem and on profit-based valuation of the fixed inputs. We outline this method and illustrate it on an example of peak-load pricing.
Copyright © RLAB & LSE 2003 - 2015 | LSE, Houghton Street, London WC2A 2AE | Contact: RLAB | Site updated 28 April 2015