Direct Welfare Analysis of Relative Price Regulation* |
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Authors: | John Vickers |
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Institution: | All Souls College and Department of Economics, University of Oxford, England |
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Abstract: | The paper synthesizes and develops the welfare analysis of regulating relative prices, for example price differences, of which banning price discrimination is a special case. Welfare results are derived directly by convexity arguments using functions of welfare levels. The method is also used to obtain results about effects on consumer surplus. |
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