On the satisfaction of peak demand in the certainty case |
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Authors: | Yves Balasko |
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Institution: | Paris-Jourdan Sciences Economiques, France |
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Abstract: | The concept of full-capacity flat-rate equilibrium is explored for a version of the Arrow-Debreu model with time-differentiated goods and production subject to a capacity constraint. The corresponding equilibrium allocations are shown to be inefficient in general. It is also shown that rationing peak demand is Pareto superior to non-rationing. |
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