Horsley, Anthony and Wrobel, Andrew J. (2005) A practical short-run approach to market equilibrium. TE (488). Suntory and Toyota International Centres for Economics and Related Disciplines, London, UK.
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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.
| Item Type: | Monograph (Discussion Paper) |
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| Official URL: | http://sticerd.lse.ac.uk |
| Additional Information: | © 2005 the authors |
| Divisions: | Economics STICERD |
| Subjects: | H Social Sciences > HB Economic Theory |
| JEL classification: | D - Microeconomics > D5 - General Equilibrium and Disequilibrium > D58 - Computable and Other Applied General Equilibrium Models D - Microeconomics > D2 - Production and Organizations > D24 - Production; Cost; Capital and Total Factor Productivity; Capacity D - Microeconomics > D4 - Market Structure and Pricing > D41 - Perfect Competition |
| Date Deposited: | 11 Jul 2008 13:11 |
| Last Modified: | 11 Dec 2024 18:40 |
| URI: | http://eprints.lse.ac.uk/id/eprint/19313 |
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