Bayesian Analysis of Demand Under Block Rate Pricing by Koji Miyawaki

Author:Koji Miyawaki
Language: eng
Format: epub, pdf
ISBN: 9789811518577
Publisher: Springer Singapore

Table 3.1Adequacy ratios

Coefficient

Efficiency ratio

0.67 (0.21)

0.0037 (0.0026)

181

1.00 (0.00)

0.0004 (0.0003)

2,500

Standard deviations are given in parentheses

We also investigate how the efficient blanket is affected by the number of blocks. Our dataset contains 65 and 245 consumers under three-block and six-block decreasing block rate pricing, respectively (see also Fig. 3.4(Panel a) in Sect. 3.4.1). For these subsets of the empirical data, we calculate adequacy ratios for . The results are given in Table 3.2. The degree of approximation decreases on average as the number of blocks increases, but the results are similar when we take into account the standard deviations.

Fig. 3.4Relative frequency of the number of blocks and histograms of the unit price and the fixed gas service fee in January 2007

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