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The short-run approach to long-run equilibrium in competitive markets[electronic resource] :a general theory with application to peak-load pricing with storage /

紀錄類型:	書目-電子資源 : Monograph/item
杜威分類號:	339.5
書名/作者:	The short-run approach to long-run equilibrium in competitive markets : a general theory with application to peak-load pricing with storage // by Anthony Horsley, Andrew J. Wrobel.
作者:	Horsley, Anthony.
其他作者:	Wrobel, Andrew J.
出版者:	Cham : : Springer International Publishing :, 2016.
面頁冊數:	x, 195 p. : : ill., digital ;; 24 cm.
Contained By:	Springer eBooks
標題:	Equilibrium (Economics)
標題:	Pricing.
標題:	Economics.
標題:	Economic Theory/Quantitative Economics/Mathematical Methods.
標題:	Energy Policy, Economics and Management.
標題:	Microeconomics.
標題:	Continuous Optimization.
標題:	Energy Storage.
標題:	Energy Economics.
ISBN:	9783319333984
ISBN:	9783319333977
內容註:	Introduction -- Peak-load pricing with cross-price independent demands: a simple illustration -- Characterizations of long-run producer optimum -- Short-run profit approach to long-run market equilibrium -- Short-run approach to electricity pricing in continuous time -- Existence of optimal quantities and shadow prices with no duality gap -- Production techniques with conditionally fixed coefficients -- Conclusions.
摘要、提要註:	The authors present a new formal framework for finding the long-run competitive market equilibrium through short-run equilibria by exploiting the operating policies and plant valuations. This "short-run approach" develops ideas of Boiteux and Koopmans. Applied to the peak-load pricing of electricity generated by thermal, hydro and pumped-storage plants, it gives a sound and practical method of valuing the fixed assets--in this case, the river flows and the geological sites suitable for reservoirs. Its main mathematical basis is the producer's short-run profit maximization programme and its dual; their solutions have relatively simple forms that can greatly ease the fixed-point problem of solving for the general equilibrium. Since the optimal values (profit and cost functions) are usually nondifferentiable--this is so when there are joint costs of production such as capacity constraints--nonsmooth calculus is employed to resolve long-standing discrepancies between textbook theory and industrial reality by giving subdifferential extensions of basic results of microeconomics, including the Wong-Viner Envelope Theorem.
電子資源:	http://dx.doi.org/10.1007/978-3-319-33398-4

The short-run approach to long-run equilibrium in competitive markets[electronic resource] :a general theory with application to peak-load pricing with storage /
Horsley, Anthony.

The short-run approach to long-run equilibrium in competitive marketsa general theory with application to peak-load pricing with storage /[electronic resource] :by Anthony Horsley, Andrew J. Wrobel. - Cham :Springer International Publishing :2016. - x, 195 p. :ill., digital ;24 cm. - Lecture notes in economics and mathematical systems,6840075-8442 ;. - Lecture notes in economics and mathematical systems ;655..

Introduction -- Peak-load pricing with cross-price independent demands: a simple illustration -- Characterizations of long-run producer optimum -- Short-run profit approach to long-run market equilibrium -- Short-run approach to electricity pricing in continuous time -- Existence of optimal quantities and shadow prices with no duality gap -- Production techniques with conditionally fixed coefficients -- Conclusions.

The authors present a new formal framework for finding the long-run competitive market equilibrium through short-run equilibria by exploiting the operating policies and plant valuations. This "short-run approach" develops ideas of Boiteux and Koopmans. Applied to the peak-load pricing of electricity generated by thermal, hydro and pumped-storage plants, it gives a sound and practical method of valuing the fixed assets--in this case, the river flows and the geological sites suitable for reservoirs. Its main mathematical basis is the producer's short-run profit maximization programme and its dual; their solutions have relatively simple forms that can greatly ease the fixed-point problem of solving for the general equilibrium. Since the optimal values (profit and cost functions) are usually nondifferentiable--this is so when there are joint costs of production such as capacity constraints--nonsmooth calculus is employed to resolve long-standing discrepancies between textbook theory and industrial reality by giving subdifferential extensions of basic results of microeconomics, including the Wong-Viner Envelope Theorem.

ISBN: 9783319333984

Standard No.: 10.1007/978-3-319-33398-4doiSubjects--Topical Terms:

227618
Equilibrium (Economics)

LC Class. No.: HB145 / .H67 2016

Dewey Class. No.: 339.5

The short-run approach to long-run equilibrium in competitive markets[electronic resource] :a general theory with application to peak-load pricing with storage /
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