Utility Regulation and Risk Allocation: The Roles of Marginal Cost Pricing and Futures Markets
Utility Regulation and Risk Allocation: The Roles of Marginal Cost Pricing and Futures Markets
复制标题
公用事业监管和风险分配：边际成本定价和期货市场的作用
DOI：
10.1023/b:rege.0000028012.31228.ec
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发表时间：
2002
影响因子：
1.1
通讯作者：
Simon Cowan
中科院分区：
文献类型：
--
作者：
Simon Cowan
消费者福利的影响，要求公用事业面临成本或需求风险，使用固定的零售价格或边际成本定价进行评估。由于边际成本定价和成本波动性，有效的期货市场使每个州的消费者福利至少与固定价格一样高。在有需求风险的情况下，如果利润差额转移到消费者身上，边际成本定价可以使每个状态下的消费者受益，而不会损害公司。期货市场可以作为转移的部分替代品。
The effects on consumer welfare of requiring a utility facing cost or demand risk to use either a fixed retail price or marginal cost pricing are assessed. With marginal cost pricing and cost volatility an efficient futures market allows consumer welfare to be at least as high in every state as with the fixed price. With demand risk marginal cost pricing can benefit the consumer in every state without harming the firm if the profit difference is transferred to the consumer. A futures market can act as a partial replacement for the transfer.