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Volume :8 Issue : 4 1980      Add To Cart                                                                    Download

Dynamic Considerations in the Pricing of Public Enterprise and the Policy Markers Objectives by Revealed Preference: An Application to Selected Asian Economies

Auther : J.Harris - S.Harik

The conceptual problems involved in the pricing of public goods have received considerable academic attention. A good deal of literature has been directed to the markets for public goods for which no price rationing is directly possible( for example, national defense) , but for which preferences of individual agents produce signals ( for example, voting ). The target of this paper ,however, is the pricing over time of public enterprises for which price rationing is possible, and for which central authorities have monopoly supply rights( for example, electricity). Our attention is confined to the developing economy, the market mechanisms of which do not, for one reason or another, produce modern growth as a natural outcome of the economys day to day operation. Further, we will eschew the static consequences of these pricing decisions for the longer run implication they have for growth in an economy which is otherwise backward. In fact, it will be suggested below that the attainment of various long run objectives is very likely inconsistent with static targets, like a locative efficiency, in the developing economy context. Predictably, lessons are provided by received microeconomic theory, though by a different branch of it than public goods theorists normally employ.

 

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