How does Fishpond Work?

Shop over a million Toys in our Huge New Range

Marshall and Turvey on Peak Load or Joint Product Pricing
By

Rating
Excerpt from Marshall and Turvey on Peak Load or Joint Product Pricing This paper is concerned with an extension of the theory of peak load or joint product pricing. It is prompted by a recent paper by Turvey and by Mar shall's early analysis of joint product pricing (marshall 1920; Turvey Both of these authors hint at solutions to a joint product or peak load problem that have not been discussed in the major contributions on peak load pricing (steiner 1957, Williamson Both Williamson and Steiner recognize the existence of a class of peak load situations which Steiner calls the firm peak case. These occur where it is not possible in the off peak period to fully util ize capacity even when a price equal to marginal running cost is charged.1 This corresponds to Marshall's valueless straw case. When the straw is worthless, farmers concentrate on the production of a cr0p which has a larger proportion of ears to straw. Corresponding to this process is a firm peak situation where a public utility would install different kinds of facilities in order to vary its production methods so as to reduce the costs of servicing the peak loads. Empiri cal evidence of this can be noted in the electricity supply industry's production techniques, which consist of employing plants which have different cost character istics according to their role in meeting demand. This was noted by Turvey whose paper throws some light on the problems of an electricity supply industry in meet ing demand. Although Turvey does not explicitly state what are optimal peak load prices when an industry uses more than one kind of plant to meet its peak loads, he hints that prices equal to marginal running cost are somehow relevant. Turvey criticises the assumption of constant marginal running costs and constant incre mental capacity costs as too simple a notion to be meaningful. He then notes that for an electricity system consisting of plants differing in age, location. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Product Details
Look for similar items by category
Home » Books » History » General
Home » Books » Business » Economics » General
How Fishpond Works
Fishpond works with suppliers all over the world to bring you a huge selection of products, really great prices, and delivery included on over 25 million products that we sell. We do our best every day to make Fishpond an awesome place for customers to shop and get what they want — all at the best prices online.
Webmasters, Bloggers & Website Owners
You can earn a 5% commission by selling Marshall and Turvey on Peak Load or Joint Product Pricing (Classic Reprint) on your website. It's easy to get started - we will give you example code. After you're set-up, your website can earn you money while you work, play or even sleep! You should start right now!
Authors / Publishers
Are you the Author or Publisher of a book? Or the manufacturer of one of the millions of products that we sell. You can improve sales and grow your revenue by submitting additional information on this title. The better the information we have about a product, the more we will sell!
Item ships from and is sold by Fishpond.com, Inc.
Back to top