EconPapers    
Economics at your fingertips  
 

Experimental Economics and the New Commodities Problem

Walter Diewert (), Kevin Fox () and Paul Schreyer

Microeconomics.ca working papers from Vancouver School of Economics

Abstract: Brynjolfsson, Collis, Diewert, Eggers and Fox (2018) have used experimental economics to measure the welfare benefits of free commodities. In this paper, their methodological approach is adapted to measuring the benefits of new commodities which may or may not be free. Their approach leads to a new method for estimating Hicksian reservation prices. The new methodology in the present paper requires experimental estimates for household willingness to pay for new commodities or estimates for the compensation required for households to give up their use of a new commodity.

JEL-codes: C43 D11 D60 E01 E31 O31 O47 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-mac
Date: 2019-03-13, Revised 2019-03-13
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
https://econ2017.sites.olt.ubc.ca/files/2019/03/pd ... -Problem-Mar2019.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ubc:pmicro:erwin_diewert-2019-4

Access Statistics for this paper

More papers in Microeconomics.ca working papers from Vancouver School of Economics
Bibliographic data for series maintained by Maureen Chin (). This e-mail address is bad, please contact .

 
Page updated 2019-07-14
Handle: RePEc:ubc:pmicro:erwin_diewert-2019-4