Telecommunications Pricing

Theory and Practice

By: Bridger Mitchell, Ingo Vogelsang (As told to)

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Hardcover | 16 March 1992

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328 Pages

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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.

Industry Reviews

"...an excellent survey of the theoretical literature on optimal pricing of utilities (with their own applications to telecommunications) coupled with a very up to date and fascinating discussion of actual pricing policies by local exchange and interexchange carriers. It is an excellent addition to previous books on regulation, but is particularly useful to those who want an overview of the current state of telecommunications economics." Journal of Economic Literature

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Non-Fiction Industry & Industrial Studies Media, Entertainment, Information & Communication Industries Economics Economic Theory & Philosophy Economic History Engineering & Technology Electronics & Communications Engineering Communications Engineering & Telecommunications Labour Economics

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Published: 16th March 1992

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List of figures	p. xii
List of tables	p. xiv
Acknowledgments	p. xv
Pricing and Telecommunications
Introduction	p. 3
Telecommunications pricing	p. 3
Theory and practice	p. 4
Overview	p. 6
Telecommunications production, costs, and pricing	p. 7
Stylized telecommunications technology	p. 7
The US context	p. 15
Major tariff developments	p. 17
Recent Developments in the Normative Economic Theory of Tariffs
Types of tariffs	p. 23
The context	p. 23
Normative framework	p. 26
Overview of tariff types	p. 34
Linear tariffs	p. 38
Marginal-cost prices	p. 38
Ramsey pricing (demand-oriented tariffs)	p. 43
Ramsey pricing with competition	p. 48
Ramsey pricing with consumption externalities	p. 55
Definition of services	p. 61
Customer-class pricing	p. 64
Dynamic pricing	p. 66
Conclusions	p. 72
Nonlinear tariffs	p. 73
The consumption framework	p. 73
Two-part tariffs	p. 77
Two-part tariffs with consumption externalities	p. 81
Discriminatory two-part tariffs	p. 83
Smooth nonlinear tariffs	p. 85
Discrete multipart and optional two-part tariffs	p. 95
Tying/bundling versus unbundling	p. 105
Nonlinear tariffs in oligopoly	p. 112
Second-best piecemeal policy	p. 114
Cost-based tariffs	p. 118
Subsidy-free pricing	p. 118
Cost-axiomatic pricing	p. 134
Fully distributed-cost pricing	p. 137
Special issues of carrier rates	p. 140
Second-best piecemeal policy revisited	p. 143
Telephone Rate Structures in the United States
Regulation and US retail rates	p. 149
The impact of regulation on rate setting	p. 149
Basic US retail rates	p. 156
Price caps	p. 167
Optional calling plans	p. 176
Theory of optional tariffs reconsidered	p. 176
Development of ATandT's optional calling plan	p. 188
Nationwide optional calling plans	p. 194
FCC guidelines for optional calling plans	p. 199
Business bulk-rate tariffs	p. 201
Local rates	p. 201
WATS tariffs	p. 202
800-number services	p. 206
Virtual private networks	p. 207
Discounts for bundling	p. 208
Private lines	p. 210
Custom tariffs	p. 211
Pricing of carrier services	p. 213
Carrier access rates	p. 213
Bypass of the local exchange	p. 216
Incentive effects	p. 216
Nonlinear pricing of carrier access	p. 221
Social tariffs	p. 224
Telephone penetration	p. 224
Goals of social tariffs	p. 227
The history of social tariffs	p. 228
Description of state programs	p. 230
The costs of social tariffs	p. 239
The welfare impact of social tariffs	p. 243
Synthesis
Synthesis of theory and practice	p. 249
Lessons from pricing theory	p. 249
Assessing practice in light of theory	p. 252
Pricing and the future	p. 258
US telephone price indexes	p. 264
Bibliography	p. 287
Index	p. 301
Selected list of RAND books	p. 308
Table of Contents provided by Syndetics. All Rights Reserved.

Telecommunications Pricing

Theory and Practice

At a Glance

Hardcover

Industry Reviews

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You Can Find This Book In

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