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The Tragic Inefficiency Of the M-ECPR

Author

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  • Nicholas Economides

Abstract

We show that application of the so-called "Market Determined Efficient Component Pricing Rule," the "Efficient Component Pricing Rule," and, in general, of pricing rules that are based on private opportunity costs would perpetuate pricing inefficiencies and result in lower social surplus than pricing which is based on social opportunity cost rather than private opportunity costs.

Suggested Citation

  • Nicholas Economides, 1997. "The Tragic Inefficiency Of the M-ECPR," Working Papers 98-01, New York University, Leonard N. Stern School of Business, Department of Economics.
    • Handle: RePEc:ste:nystbu:98-01
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    File URL: http://raven.stern.nyu.edu/networks/tragic.pdf
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    Citations

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    Cited by:

    1. James Nolan & Bill Drew, 2002. "An Update on Regulatory Change in the Canadian Grain Handling and Transportation Industry," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 50(1), pages 85-98, March.
    2. Bourdeau de Fontenay, Alain & Liebenau, Jonathan & Savin, Brian, 2005. "A New View of Scale and Scope in the Telecommunications Industry: Implications for Competition and Innovation," MPRA Paper 2516, University Library of Munich, Germany.

    More about this item

    Keywords

    Networks; Access; Complementarity; Public Policy;
    All these keywords.

    JEL classification:

    • L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
    • L40 - Industrial Organization - - Antitrust Issues and Policies - - - General

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