期刊名称：CORE Discussion Papers / Center for Operations Research and Econometrics (UCL), Louvain
出版年度：2010
卷号：2010
期号：1
出版社：Center for Operations Research and Econometrics (UCL), Louvain
摘要：We develop rules for pricing and capacity choice for an interruptible service that recognise the
interdependence between consumers' perceptions of system reliability and their market behaviour. Consumers
post ex ante demands, based on their expectations on aggregate demand. Posted demands are met if ex post
supply capacity is sufficient. However, if supply is inadequate all ex ante demands are proportionally
interrupted. Consumers' expectations of aggregate demand are assumed to be rational. Under reasonable
values for the consumer's degrees of relative risk aversion and prudence, demand is decreasing in supply
reliability. We derive operational expressions for the optimal pricing rule and the capacity expansion rule. We
show that the optimal price under uncertainty consists of the optimal price under certainty plus a markup that
positively depends on the degrees of relative risk aversion, relative prudence and system reliability. We also
show that any reliability enhancing investment - though lowering the operating surplus of the public utility -
is socially desirable as long as it covers the cost of investment.
关键词：service interruption, rationing, system reliability, second-best pricing, capacity choice, prudence
