Valuing a new good

Laura Blow
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Laura Blow: Institute for Fiscal Studies and University of Surrey

No W04/03, IFS Working Papers from Institute for Fiscal Studies

Abstract: This paper presents a nonparametric method for calculating a lower bound on the virtual or reservation price of a new good. This allows the welfare effects of product market innovations to be investigated. We illustrate the technique using consumer panel data.

Keywords: New goods; revealed preferences (search for similar items in EconPapers)
JEL-codes: C43 D11 (search for similar items in EconPapers)
Pages: 15 pp
Date: 2004-01-20
New Economics Papers: this item is included in nep-ent and nep-mic
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