Utility Regulation and Risk Allocation: The Roles of Marginal Cost Pricing and Futures Markets.
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...
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| 格式: | Journal article |
| 語言: | English |
| 出版: |
2004
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