Consumer's Surplus: Simple Solutions to an Old Problem

Udo Ebert

Bulletin of Economic Research, 1995, vol. 47, issue 4, 285-94

Abstract: The paper presents a concise account of recent results on the axiomatization of various welfare measures. Following the introduction and discussion of some elementary properties that a welfare measure should satisfy valid measures are derived. In particular, the Hisksian equivalent and compensating variation and a measure based on the money metric are characterized. Copyright 1995 by Blackwell Publishing Ltd and the Board of Trustees of the Bulletin of Economic Research

Date: 1995
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