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| Author: | Edlin, A. S. Epelbaum, M. Heller, W. P. |
| Title: | Is perfect price discrimination really efficient? : Welfare and existence in general equilibrium |
| Journal: | Econometrica
1998 : JUL, VOL. 66:4, p. 897-922 |
| Index terms: | ECONOMETRICS REGULATIONS MONOPOLY PRICE DISCRIMINATION |
| Language: | eng |
| Abstract: | The welfare properties of surplus maximization by embedding a perfectly discriminating monopoly in an otherwise standard Arrow-Debreu economy is examined. Although an inefficient equilibrium is discovered, partial equilibrium intuition is validated by showing: (i) that equilibria are efficient provided that the monopoly goods are costly, and (ii) that a natural monopoly can typically use personalized two-part tariffs in these equilibria. |
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