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1、外文翻譯whendoesMarginalcostpricingleadtoParetoEfficiencyMaterialSource:SpringerVerlagAuth:EgbertDierkerThebasicdifficultyinthecourseofthiswkhasbeenthatoffindingoutinwhichtermsrelevantcriteriafthewellfunctioningofthemarginal
2、costpricingrulearetobefmulated.Fthatpurposetoimproveourintuitionwefirststudyindetailparticularlysimpleclassofexampleswiththeaidofthetheyofpublicgoods.Thestartingpointhereisthewidespreadideathatdecreasingcostphenomenacanb
3、eassociatedwithpublicgoods.Althoughthisideaisintuitivelyplausiblealthoughthetheyofpublicgoodshasexperiencedarapiddevelopmentinthelastdecadeswehavenotfoundafmalanalysisofdecreasingcostphenomenausingthetheyofpublicgoodsint
4、heliterature.Therefewedevelopamodelinwhichwetransfmincreasingreturnstoscaletechnologyinvolvingtwoprivategoodsoneinputwhichservesasnumoneoutputintoaconvextechnologyinvolvingtwoprivategoodsanadditionalpublicgood.Thepublicg
5、oodrepresentsahinvestmentintermsoffixedcostshigherfixedcostsameproductivemachineryleadingtolowerunitcosts.Theconsumershaveacommoninterestintheproductivityofthemachinerysinceareductionofunitcostsisreflectedbyareductionofp
6、ricesinotherwdsbyanimprovedpurchasingpowerofthenumcommoditywithwhichconsumersareendowed.TheefficiencyofallocationsineconomieswithpublicgoodshasbeenstudiedamongotherthingsinLindahlthey[seeMilleron(1972)fasurvey].Inparticu
7、larthefundamentaltheemofwelfareeconomicshasbeenestablishedfeconomieswithpublicgoods.Theanalogofacompetitiveequilib?inaneconomy44E.Dierker:withpublicgoodsisaLindahlequilibrium.EveryLindahlequilibriumisParetoefficientunder
8、convexityassumptionseveryParetoefficientallocationisaLindahlequilibriumirendowmentsaresuitablydistributed.AwellknownnecessaryconditionfParetooptimalityineconomieswithpublicgoodsisSamuelsonsconditionwhichsaysthatthesumoft
9、heindividualratesofsubstitutionbetweenapublicaprivategoodmustyieldthemarginalrateoftransfmationbetweenthesegoods.Weshallseeinsection2thatamarginalanadditionalcomponenttoindicatewhatactuallyistheequivalentofthevalueoftheo
10、utputcommodityintermsofthenum?commodity.Thatistosaythefixedcostcomponentisneededindertomakesurethatnoinfmationislostwhenpassingfromquantitiestovaluessincequantitiescanberetrieved.Secondindertoobtainatechnologywithnonincr
11、easingreturnstoscaleinthepublicgoodmodeltheiginaltechnologyinthemodelwithonlyprivategoodshastohavearatherregularshape.Requirementsontheshapeofthetechnologyarequitenaturalwhenonewantstoapplymarginalcostpricingasiswellunde
12、rstoodbypractitionerswhoadvocatethatsomeversionofaveragemarginalcostbeusedinsteadoftheperhapsrathererraticallybehavingprecisemarginalcost.Quitegenerallyonecannotexpecttoachieveaglobalaimsuchasefficiencyonthebasisofanirre
13、gularlocaldatumfinstancemarginalcosts.Therefewhenadoptingaglobalviewonehastosmoothenoutirregularitiesoftheproductionset.Ourglobalassumptionontheshapeofthetechnologyadmitsscaleelasticitieswhichdecreasewiththelevelofproduc
14、tion.Thiscaseiseconomicallyappealingsincetheadvantagesoflargerproductionlevelstendtopeteroutwhentheproductionlevelbecomeshighenough.Iragiventechnologydoesnotexhibitconstantfallingscaleelasticitiesbutisratherirregularwesu
15、ggestthatitbeapproximatedbyawellbehavedtechnologybefemarginalcostpricesatedetermined.Furthermeaboundfthesizeoftheresultinginefficiencyshouldbecomputedintermsofthedifferencebetweentheactuallygiventheapproximatingtechnolog
16、y.Thisapproximationisnottreatedinthispaperirregularitiessimplybeingassumedaway.Thirdevenifthetechnologyexhibitsawellbehavednonconvexityirdependsonaggregateconsumptionwhethermarginalcostpricingequilibriaareefficientofnot.
17、Theroleofaggregatecompensateddemhasbeenemphasizedfp?underacost46E.Dierker:revenueconstraintbutithasnottoourknowledgebeenmuchdiscussedinthecontextofmarginalcostpricing.WewouldIiketopointoutthoughthatM.Quinzii(1982)makeses
18、sentialuseoftheconceptofaggregatecompensateddeminherwkaboutthenonemptinessoftheceofaproductioneconomywithincreasingreturnsz.Althoughsheisnotconcernedwithmarginalcostpricingthebasicdifficultyinherproblemiscloselyrelatedto
19、theonehere.IndeedthecrucialconditionshegivesfthenonemptinessoftheceisverysimilartotheoneweshallgivebelowftheParetoefficiencyofmarginalcostpricingequilibria[seeQuinzii(1982)theem10inamegeneralcontextQuinziiIchiishi(1983).
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