Welfare Measurement and Representative Consumer Theory

V. Smith and Roger von Haefen

No 97-07, Working Papers from Duke University, Department of Economics

Abstract: This paper generalizes results from Anderson, De Palma, and Thisse [1992] linking individual random utility and aggregate representative individual demand models, to consider a comparable relation for the willingness to pay functions for quality attribut es of marketed goods. It also suggests how the logic can be used to describe links between choice occasion and aggregate models (across occasions) for an individual.

JEL-codes: Q2 (search for similar items in EconPapers)
Date: 1997
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Citations: View citations in EconPapers (3)

Published in ECONOMICS LETTERS, Vol. 57, 1997, pages 63-67

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Persistent link: https://EconPapers.repec.org/RePEc:duk:dukeec:97-07

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