Willingness-to-pay and the Equivalent Approach

Marc Fleurbaey

No 25, OPHI Working Papers from Queen Elizabeth House, University of Oxford

Abstract: This paper describes the evaluation of individual situations in terms of equivalent incomes computed from ordinary income by adding or subtracting various terms of willingness-to-pay. It discusses the origin of the approach and its connection with social choice theory and philosophical principles. It also examines the challenges to be addressed for empirical applications of the approach.

Date: 2008-08
New Economics Papers: this item is included in nep-dcm and nep-upt
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Journal Article: Willingness-to-pay and the equivalence approach (2011)
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