Shaking Up Measures Of Consumer Economic Well-being (inbunden)

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Mikroekonomi

Format: Inbunden (Hardback)
Språk: Engelska
Antal sidor: 132
Utgivningsdatum: 2022-05-17
Förlag: World Scientific Publishing Co Pte Ltd
Illustrationer: Black & white illustrations
Dimensioner: 229 x 152 x 10 mm
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Antal komponenter: 1
Komponenter: 414:B&W 6 x 9 in or 229 x 152 mm Case Laminate on White w/Matte Lam
ISBN: 9789811249785

Shaking Up Measures Of Consumer Economic Well-being

av Thijs Ten Raa

Inbunden, Engelska, 2022-05-17

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In this book the author analyzes measures of consumer well-being. The three main, neoclassical measures of well-being are the compensating variation, the equivalent variation, and consumer's surplus. The question is which of the measures of consumer well-being is the best. This book tackles the question, with a surprising outcome that is contrary to the main opinion in the literature. Prof ten Raa presents a test that measures must pass to track utility. The test will be used to sort measures in the remainder of the book. It will culminate in a variant of consumer's surplus, which he calls the consumer's index, and a generalization that applies to nonhomothetic demands. Variants of the consumer's index are presented, including ones that are applicable to demand functions with income effects, even nonlinear ones. So-called broad measures of consumer well-being, such as the Human Development Index, will be encompassed.

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