Topic
Limit price
About: Limit price is a research topic. Over the lifetime, 4865 publications have been published within this topic receiving 148546 citations.
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TL;DR: In this paper, the authors proposed a solution that decomposes the upstream monopolist's profit into two parts, one that depends on average input prices, and one that depend on their distribution.
Abstract: This Paper addresses the question of third-degree price discrimination in input markets. I propose a solution that relies on a method that decomposes the upstream monopolist's profit into two parts, one that depends on average input prices, and one that depends on their distribution. I am able to obtain rather general results, and, in the linear demand case, I obtain a full characterization of the equilibria in the two regimes of price discrimination and price uniformity, generalizing the findings of Yoshida (2000). Under reasonable assumptions, input price discrimination negatively affects both consumer surplus and total welfare.
48 citations
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05 Jan 1999TL;DR: It is argued that the use of a uniform price auction for electricity markets exacerbates price volatility and a discriminatory price auction is proposed as a better alternative that would reduce the responsiveness of price to errors in forecasting total load.
Abstract: The restructured market for electricity in the UK has experienced a systematic pattern of price spikes associated with the use of market power by the two dominant generators. Partly in response to this problem, the share of capacity owned by any individual generator after restructuring was limited in Victoria, Australia. As a result, a much more competitive market resulted with prices substantially lower than they were under regulation. Nevertheless, an erratic pattern of price spikes exists and the price volatility is a potential problem for customers. This paper argues that the use of a uniform price auction for electricity markets exacerbates price volatility. A discriminatory price auction is proposed as a better alternative that would reduce the responsiveness of price to errors in forecasting total load.
48 citations
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TL;DR: In this paper, a GUO (general utility optimization) model is proposed to obtain the general formulae of the price effect, substitution effect and income effect under the personal carbon trading (PCT) scheme.
48 citations
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02 Sep 2002
TL;DR: In this paper, the authors present a system and methods for trading commodity, an item or instrument are provided, and the market prices and trading may be monitored to detect a spike in the market price or artificially high market price.
Abstract: Systems and methods for trading commodity, an item or instrument are provided. The market prices and trading may be monitored to detect a spike in the market price or artificially high market price. Excess profits resulting from the sale at an artificially high market price may be distributed to market participants based upon the participant's trading record in the market or upon some other suitable method.
48 citations
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TL;DR: In this article, the authors examined the impacts of sectoral price control policies on oil price pass-through into China's aggregate price level and developed a partial transmission input-output model that captures the uniqueness of the Chinese market.
48 citations