On the expenditure function and welfare in random utility models

Paolo Delle Site

Economics Bulletin, 2014, vol. 34, issue 1, 152-163

Abstract: We extend the results on the cumulative distribution function and the expectation of the expenditure function in additive random utility models to cases of imperfect before-after correlation of the random terms, expenditure unrestricted in sign, and changing choice set. The results are of practical interest for welfare analysis.

Keywords: discrete choice; random utility; random expenditure; random compensating variation (search for similar items in EconPapers)
JEL-codes: D1 D6 (search for similar items in EconPapers)
Date: 2014-01-30
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