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 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.
Year of publication: |
1997-04-01
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Authors: | Smith, V. Kerry ; Von Haefen, Roger |
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