A practical short-run approach to market equilibrium

Horsley, A. & Wrobel, A. J. (2005). A practical short-run approach to market equilibrium. (TE 488). Suntory and Toyota International Centres for Economics and Related Disciplines.
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The “short-run approach” calculates long-run producer optima and general equilibria by building on short-run solutions to the producer’s profit maximization problem and on profit-based valuation of the fixed inputs. We outline this method and illustrate it on an example of peak-load pricing.
Item Type Working paper
Copyright holders © 2005 the authors
Departments LSE > Academic Departments > Economics
LSE > Research Centres > STICERD
Date Deposited 11 Jul 2008
URI https://researchonline.lse.ac.uk/id/eprint/19313

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