Consumer's Surplus Revisited

J Shonkwiler

American Journal of Agricultural Economics, 1991, vol. 73, issue 2, 410-414

Abstract: A technique for approximating welfare measures using knowledge of the Marshallian demand relation is developed and compared numerically to the true measures and other approximations. The technique does not rely on the solution of differential equations and is easily illustrated graphically. The technique should be useful as a pedagogic device and applicable in empirical work when derivation of the indirect utility function is burdensome.

Date: 1991
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Persistent link: https://EconPapers.repec.org/RePEc:oup:ajagec:v:73:y:1991:i:2:p:410-414.

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