Consumer surplus analysis under uncertainty: A general equilibrium perspective

Takashi Hayashi

Journal of Mathematical Economics, 2014, vol. 55, issue C, 154-164

Abstract: This paper derives an exact form of partial equilibrium efficiency measure under uncertainty which is consistent with expected utility maximization in a general equilibrium situation with ex-post spot markets for many goods and asset markets which are in general incomplete.

Keywords: Partial equilibrium analysis; General equilibrium analysis; Incomplete asset markets; Hicksian aggregation; Expected consumer surplus (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:mateco:v:55:y:2014:i:c:p:154-164

DOI: 10.1016/j.jmateco.2014.02.001

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