A practical short-run approach to market equilibrium

The “short-run approach” calculates long-run producer optima and general equilibria by building on short-run solutions to the producer’s profit maximization problem and on profit-based valuation of the fixed inputs. We outline this method and illustrate it on an example of peak-load pricing.

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Year of publication:	2005-04
Authors:	Horsley, Anthony ; Wrobel, Andrew J.
Institutions:	London School of Economics (LSE)
Subject:	general equilibrium \| fixed-input valuation \| nondifferentiable joint costs \| Wong-Viner Envelope Theorem \| peak-load pricing

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Extent:	application/pdf
Series:	LSE Research Online Documents on Economics.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series TE, 488 9 pages
Classification:	D58 - Computable and Other Applied General Equilibrium Models ; D24 - Production; Capital and Total Factor Productivity; Capacity ; D41 - Perfect Competition
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011071538