Capacity-Contingent Nonlinear Pricing by Regulated Firms

Daniel Spulber

Journal of Regulatory Economics, 1992, vol. 4, issue 4, 299-319

Abstract: Second-best Pareto optimal pricing by a regulated firm subject to demand and capacity shocks is examined. Nonlinear price schedules for the firm's customers are obtained that are contingent on capacity realizations. The second-best Pareto optimal mechanism also is implemented by an allocation mechanism based on the consumer's choice of a minimum demand or firm power level. The optimal mechanism is implemented as well by a general form of priority pricing. Copyright 1992 by Kluwer Academic Publishers

Date: 1992
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