Ramsey pricing and environmental regulation

Article Abstract:

The optimal pricing rule is commonly applied to public enterprises to optimize welfare when there is a limitation to profits. This rule is extended to the case of production externalities and price regulation is examined under different kinds of environmental regulation which is assumed to be administered by a separate environmental agency. The modified Ramsey prices were found to be dependent on the institutional environment.

Administration of Air and Water Resource and Solid Waste Management Programs, Environmental Programs, Pricing Policy, Analysis, Economic aspects, Pricing, Environmental policy, Government business enterprises, Public enterprises

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Consumer's surplus: simple solutions to an old problem

Article Abstract:

The derivation of welfare measures is facilitated by the use of the axiomatic approach. The measure assumes certain basic properties such as one indicating that consumer's willingness to pay determines the utility of a certain good. Three measures are particularly recommended: the Hicksian equivalent, a compensating variation and one based on the expenditure function or money metric.

Measurement, Welfare, Public assistance

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Sequential generalized Lorenz dominance and transfer principles

Article Abstract:

An understanding of orderings considered by Atkinson and Bourguignon for dominance criteria is presented, along with a characterization of the Lorenz sequential.

Models, Usage, Income, Axioms

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