In estimating demand functions for electricity, it is inappropriate to use as a variable (in addition to marginal price) either average price for blocks other than the final one or total payment for blocks other than the final one. It is appropriate to use (in addition to marginal price) a...

This paper presents a theory for price-setting in public utilities, of which public goods will be considered a special case. Both public goods and utilities are cases of joint supplies and costs, where a good is to be supplied to and paid for by several users, and any increase in the quantity of...

Several difficulties remain with the inclusion of depreciation in a regulatory model, even after Linhart's useful comments and extensions. His liquidity constraint is overly restrictive, there are difficulties in selecting the optimal discount rate(s), and the classification of a depreciation...

The analysis seeks to determine the impact of lagged regulation on a profit-maximizing firm subject to a rate-of-return constraint. We are particularly interested in the effect of lag on the accomplishment of two regulatory goals: minimum-cost production, and an output greater than that of an...

This paper reexamines the theory of spatial price polices under more general conditions to compare mill pricing, uniform delivered pricing, and discriminatory local pricing and to interpret their implications when market regions are given. The analysis assumes that demand functions are linear...

Elaborating on the analysis of Weitzman and of Snowberger, this article develops four additional comparative statics results for the Soviet incentive model. The article demonstrates how the optimal change in the firm's self-selected target in response to changes in the central planners'...

This paper is concerned with jobs for which nontrivial job-specific skills and task-specific knowledge evolve, in a learning by doing fashion, during the course of a worker's employment. Otherwise qualified but inexperienced workers cannot be regarded as the equivalent of job incumbents under...

Ceilings on the deposit rates payable by savings institutions under the Interest Rate Adjustment Act of 1966 resulted in interest income losses for savers. A recursive, rate-adjustment model of deposit rate formation is used to predict the deposit rates which would have been paid in the absence...

An effective profit limitation policy must employ control techniques that yield a profit outcome, or ceiling, consistent with policy norms. In general, utility profit regulation achieves this by allowing a profit sufficient to attract capital and provide a "fair" return including a risk premium....

This paper investigates the development of a class of models suggested by an application of the logistic curve to model the growth of Bell System residence telephones. These models are expected to be more flexible than the "S"-shaped logistic curve. They allow the "potential expansion of growth"...