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| Author: | Armstrong, M. Cowan, S. Vickers, J. |
| Title: | Nonlinear pricing and price cap regulatiiton |
| Journal: | Journal of Public Economics
1995 : SEP, VOL. 58:1, p. 33-55 |
| Index terms: | REGULATIONS PRICE DISCRIMINATION PRICING |
| Language: | eng |
| Abstract: | This paper analyzes profit-maximizing nonlinear pricing by a firm that is subject to price cap regulation. Two forms of regulatory constraint are considered: (i) a cap on the firm's average revenue, and (ii) a constraint that the firm must continue to offer each consumer the option of buying at the uniform price. Optimal nonlinear price schedules in these regimes are shown to have simple characterizations that are related to nonlinear tariffs that an unregulated monopolist would charge. |
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