Horsley, Anthony and Wrobel, Andrew J. (2000) The short-run approach to LRMC pricing for multiple outputs with nondifferentiable costs. TE (393). Suntory and Toyota International Centres for Economics and Related Disciplines, London, UK.
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Abstract
Using convex calculus, we extend the Wong-Viner Theorem to nondifferentiable costs by equating the capital inputs' rental prices to their profit-imputed marginal values. Thus extended, the short-run approach to LRMC pricing is applied to peak-load pricing with storage.
| Item Type: | Monograph (Discussion Paper) |
|---|---|
| Official URL: | http://sticerd.lse.ac.uk |
| Additional Information: | © 2000 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 > D4 - Market Structure and Pricing > D46 - Value Theory L - Industrial Organization > L9 - Industry Studies: Transportation and Utilities > L94 - Electric Utilities D - Microeconomics > D2 - Production and Organizations > D24 - Production; Cost; Capital and Total Factor Productivity; Capacity |
| Date Deposited: | 12 Jul 2008 11:50 |
| Last Modified: | 13 Sep 2024 19:41 |
| URI: | http://eprints.lse.ac.uk/id/eprint/19338 |
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