Welfare Measurement and Representative Consumer Theory

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 attribut es 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.

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Year of publication:	1997
Authors:	Smith, Kerry ; Von Haefen, Roger
Institutions:	Duke University, Department of Economics

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Series:	Working Papers.
Type of publication:	Book / Working Paper
Notes:	Published in ECONOMICS LETTERS, Vol. 57, 1997, pages 63-67 Number 97-07
Classification:	Q2 - Renewable Resources and Conservation; Environmental Management
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005198761