The Welfare Gain from a New Good: An Introduction

John Creedy

No 18869, Working Paper Series from Victoria University of Wellington, Chair in Public Finance

Abstract: This note provides an elementary introduction to the measurement of welfare gains from the introduction of a new good, based on the concept of the ‘virtual price’ and standard expressions for welfare changes arising from price changes.

Keywords: Welfare changes; Virtual price; New good (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:vuw:vuwcpf:18869

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