Radner’s cost–benefit analysis in the small: A correction and new equivalences

Edward Schlee

Economics Letters, 2018, vol. 172, issue C, 31-33

Abstract: Schlee (2013) asserts the equivalence between a local welfare measure proposed by Radner (1993) and the derivatives of six other welfare measures. The asserted equivalence between Radner’s measure and one of these – Debreu’s (1951) coefficient of resource utilization – is false. What is the case is that the other six local welfare measures are equivalent to a modification of Debreu’s coefficient that applies to economies with distortions.

Keywords: Local cost–benefit analysis; Benefit function; Coefficient of resource utilization (search for similar items in EconPapers)
JEL-codes: D61 D8 (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0165176518302957
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:172:y:2018:i:c:p:31-33

DOI: 10.1016/j.econlet.2018.07.035

Access Statistics for this article

Economics Letters is currently edited by Economics Letters Editorial Office

More articles in Economics Letters from Elsevier
Bibliographic data for series maintained by Catherine Liu ().