Radner’s cost–benefit analysis in the small: An equivalence result

Edward Schlee

Economics Letters, 2013, vol. 120, issue 3, 570-572

Abstract: I show that local changes in five welfare measures are equal: a measure proposed by Radner (1993); consumers’ surplus; the Slutsky change in real wealth; the Divisia quantity index, and Debreu’s (1951) coefficient of resource utilization (the last two rescaled in units of a numeraire good).

Keywords: Local cost–benefit analysis; Consumers’ surplus; Divisia index; Slutsky compensation; Coefficient of resource utilization (search for similar items in EconPapers)
JEL-codes: D61 D8 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:120:y:2013:i:3:p:570-572

DOI: 10.1016/j.econlet.2013.06.012

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