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The past decade has witnessed a surge of pricing innovations in the
US telecommunications industry. This volume systematically reviews
recent innovations in the economic theory of pricing and extends
results to conditions that characterize telecommunications markets.
It then examines the implementation of normative pricing theory in
selected US telephone tariffs. The experience accumulated in the
United States provides a rich and diverse data base and a
laboratory for examining the practical consequences of pricing
innovations. Throughout this volume the objective is to develop and
illuminate the relationships between the normative economic theory
of pricing--with its objectives of social welfare, economic
efficiency, and fairness--and telecommunications pricing as it is
practiced by business and regulators. In particular, the new
pricing schemes are related to the theory of multiproduct and
nonlinear pricing. The book describes the welfare and competitive
properties of such pricing schemes and draws conclusions for future
pricing problems in the areas of broadband networks and open
network architecture. Many of the general theoretical pricing
principles and lessons from US pricing experience should prove
directly applicable to telecommunications services in other
countries and to other industries, including electricity and
natural gas supply, air and rail transportation, and postal and
parcel services.
The past decade has witnessed a surge of pricing innovations in the
U.S. telecommunications industry. This book systematically reviews
recent innovations in the economic theory of pricing and extends
results to the conditions which characterise telecommunications
markets. The implementation of normative pricing theory is examined
in selected US telephone tariffs, providing a rich and diverse data
base and laboratory for examining the practical consequences of
pricing innovations. The authors develop and illuminate the
relationships between the normative economic theory of pricing -
with its objectives of social welfare, economic efficiency, and
fairness - and telecommunications pricing as it is practised by
business and regulators. The general theoretical pricing principles
and lessons of US pricing experience discussed are directly
applicable to telecommunications services in other countries, and
to numerous other industries including electricity, gas, rail and
air transport, and postal services, as well as economists studying
the economic theory of pricing.
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