Welfare Measurement and Representative Consumer Theory

V. Smith and Roger von Haefen

RFF Working Paper Series from Resources for the Future

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 attributes 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.

Date: 1997-04-01
New Economics Papers: this item is included in nep-upt
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Citations: View citations in EconPapers (3)

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Journal Article: Welfare measurement and representative consumer theory (1997)
Working Paper: Welfare Measurement and Representative Consumer Theory (1997)
Working Paper: Welfare Measurement and Representative Consumer Theory (1997)
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