In this two-volume set, Rees (economics, U. of Munich, Germany) has collected 64 previously published journal articles that have developed the main framework of economic analysis of public utilities. The articles concern themselves with the fundamental problems of optimal price and capacity determination in public utilities in relation to their economic and technological characteristics (e.g. that they are "network supply systems characterised generally by high capital intensity, economies of scale and scope, high joint costs, short run capacity rigidities and long investment lead times, high sunk costs, cyclically fluctuating demands and strong elements of natural monopoly") and independent of institutional frameworks. General theory is covered in sections on marginal cost pricing, Ramsey pricing, peak load pricing, pricing under uncertainty, two-part tariffs and nonlinear pricing, and game theoretic approaches. Applications of general theory are explored in relation to rail, electricity, and telephone pricing. With a few exceptions, the articles originally appeared between the 1950s and the early 1990s. Annotation ©2006 Book News, Inc., Portland, OR (booknews.com)
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Edited by Ray Rees, Professor of Economics, University of Munich, Germany
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Hardcover. Condition: new. Hardcover. Public utilities supply a set of goods and services that are central to the workings of a modern economy. Their importance in the economy's structure is matched by the interest and complexity of the problems they present for economic analysis. This two-volume set includes the most important and influential papers in the development of public utilities economics. It includes early contributions on marginal cost pricing as well as its later extensions dealing with peak loads, financial constraints, indivisibilities, uncertainty, and non linear tariffs. The selection includes a balance between partial and general equilibrium analysis. More recent game theoretic approaches to some of the classic problems are also included. Three important types of public utility - electricity, telephones and rail transport - are covered in some depth.This important collection will be a valuable reference source to researchers and policymakers alike. Public utilities supply a set of goods and services that are central to the workings of a modern economy. Their importance in the economys structure is matched by the interest and complexity of the problems they present for economic analysis. Shipping may be from multiple locations in the US or from the UK, depending on stock availability. Seller Inventory # 9781840649086
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