We analyze oligopolistic third-degree price discrimination relative to uniform pricing when markets are covered. Pricing equilibria critically determined by supply-side features such as the number of firms and their marginal cost differences. It follows that each firm's Lerner index under is equal weighted harmonic mean margins discriminatory pricing. Uniform then lowers average prices raises c...

We present a case of 72-year-old male diagnosed with concurrent crystal-storing histiocytosis and nodal marginal zone lymphoma plasmacytic differentiation following finding new axillary lymphadenopathy during active surveillance for an early stage lung cancer.

We consider the problem of characterizing the locational marginal value of energy storage capacity in electric power networks with stochastic renewable supply and demand. The perspective taken is that of a system operator, whose objective is to minimize the expected cost of firm supply required to balance a stochastic net-demand process over a finite horizon, subject to transmission and energy ...

We analyze two locational marginal pricing schemes in electricity markets derived from an economic dispatch (ED) problem with AC power flow equations that define a non-convex feasible set. The first among these prices, termed AC-LMPs, are Lagrange multipliers satisfy Karush-Kuhn-Tucker conditions for stationarity/local optimality of the ED problem. second, called SDP-LMPs, optimal dual semidefi...

This paper reports on the results of a dynamic pricing experiment that compares the performance of three popular pricing programs–hourly pricing, critical peak pricing, and critical peak-pricing with a rebate–for a representative sample from the population of households in the District of Columbia. The sampled households differ in terms of their income levels, electricityusing appliance holding...

This paper analyzes the marginal willingness to pay for changes in noise levels related to changes in the volume of flight movements at a city airport in Stockholm, Sweden, by using a choice experiment. When estimating marginal willingness to pay for different times of the day and days of the week, we find that these vary with the temporal dimensions: mornings and evenings have higher marginal ...

Abstract. Utility indifference pricing and hedging theory is presented, showing how it leads to linear or to non-linear pricing rules for contingent claims. Convex duality is first used to derive probabilistic representations for exponential utility-based prices, in a general setting with locally bounded semi-martingale price processes. The indifference price for a finite number of claims gives...

We study the role of consumers’ psychological bargaining costs associated with the decision to bargain in a retail setting. First, we use a simple model to show how a retailer’s optimal pricing strategy (fixed pricing vs. bargaining) varies with consumers’ bargaining costs and the retailer’s marginal costs. We then prove how these fixed bargaining costs can be nonparametrically identified separ...