The short-run approach to LRMC pricing for multiple outputs with nondifferentiable costs

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.

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Year of publication:	2000-06
Authors:	Horsley, Anthony ; Wrobel, Andrew J.
Institutions:	London School of Economics (LSE)
Subject:	Wong-Viner theorem \| multiple outputs \| peak-load pricing \| energy storage

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Extent:	application/pdf
Series:	LSE Research Online Documents on Economics.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series TE, 393 15 pages
Classification:	D58 - Computable and Other Applied General Equilibrium Models ; D46 - Value Theory ; L94 - Electric Utilities ; D24 - Production; Capital and Total Factor Productivity; Capacity
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010745317