A Payment Cost Minimization auction has been proposed as an alternative to the Offer Cost Minimization auction for use in wholesale electric power markets with an intention to lower procurement cost of electricity. Efficiency concerns have been raised for this proposal while assuming that the...

Nonlinear pricing (a form of second-degree price discrimination) is widely used in transportation and other industries but it has been largely overlooked in the road-pricing literature. This paper explores the incentives for a profit-maximizing toll-road operator to adopt some simple nonlinear...

Bucket pricing entails a prepaid price and a maximum consumption limit, which requires consumers to make advance purchase decisions before their consumption needs are fully revealed. We propose a dynamic model that involves how consumers form expectations of future consumption needs, learn to...