On the Measurement of Welfare for Market and Nonmarket Goods: A Numerical Approach

Udo Ebert

American Journal of Agricultural Economics, 2010, vol. 92, issue 1, 102-109

Abstract: Extending Vartia's (1983) framework, the paper presents a simple numerical approach to the measurement of welfare for market and nonmarket goods on the basis of an incomplete (mixed) demand system. The method allows the determination of exact welfare measures. It provides a flexible and well-founded alternative to ad hoc methods based on consumer surplus. Copyright 2010, Oxford University Press.

Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:oup:ajagec:v:92:y:2010:i:1:p:102-109

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