By Bridger M. Mitchell
The prior decade has noticeable a surge of pricing ideas within the U.S. telecommunications undefined. This e-book systematically stories fresh techniques within the financial thought of pricing and extends effects to the stipulations that symbolize telecommunications markets. The authors strengthen and remove darkness from the normative concept of pricing--with its pursuits of social welfare, fiscal potency and fairness--and evaluate it with the perform of commercial and regulators.
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Extra resources for Telecommunications Pricing: Theory and Practice
Sample text
Consumer i derives utility Ui(qi] q*; yi) from the consumption of telecommunications services; q* is the quantity of other goods consumed by consumer i; and yi is his income. We assume that the purchase of telecommunications services has no effect on the marginal utility of income and the marginal utility of these other goods, and we therefore drop q* and yi as arguments in i's utility function. This assumption requires either income effects to be negligible or, if they are not, that telecommunications services make up only a small fraction of consumer z's budget so their effect will be very small.
At the margin, L is a convenient measure of the inefficiency (and to some extent the exploitative nature) of a tariff. We also find this markup to be a highly convenient and intuitive way of characterizing various types of tariffs and in making them comparable, particularly if demands between services are independent of each other. If demands are interdependent it may instead be more convenient to use the marginal effect of a price change on social surplus, (p — MC)dq/dp. Subsequent sections of Chapter 4 extend the Ramsey pricing approach to problems of oligopolistic interaction, consumption externalities, customer group discrimination, and inter temporal pricing.
We saw that fairness usually leads to constraints. Incompatibility between the different fairness concepts means that there is no feasible solution obeying all fairness constraints. This issue becomes prominent in Chapter 6. The tradeoff between fairness and surplus maximization comes out as the difference between the unconstrained and the constrained surplus maxima discussed in Chapters 4 and 5. 2 on cost-axiomatic pricing, the constraints may leave no room for maximization because they lead to a unique feasible outcome.