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Congestion-Prone Services under Quality Competition - A Microeconomic Analysis (Hardcover, 2012)
Loot Price: R4,422
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Congestion-Prone Services under Quality Competition - A Microeconomic Analysis (Hardcover, 2012)
Series: Advances in Spatial Science
Expected to ship within 10 - 15 working days
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This study presents new microeconomic analyses of congestion-prone
services that comprise most private and public services at the
final consumption stage. It accounts for two distinctive features
of congestion-prone services: the discrepancy between capacity and
throughput, and service quality competition. To accommodate these
features, a series of new decision-making theorems for consumers
and suppliers is developed. The resulting demand and cost functions
incorporate service time as the variable that reflects congestion
and service quality. In market equilibrium, interactions between
consumers and firms endogenously determine the industrial
organization type of each firm and thus allow the coexistence of
multiple industrial organization types in the same market.
Efficiency of resource allocation is assessed by applying two
different criteria: service quality diversity throughout the market
and Pareto optimality in each submarket.
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