Empirical welfare analyses often impose stringent parametric assumptions on individuals’ preferences and neglect … unobserved preference heterogeneity. In this paper, we develop a framework to conduct individual and social welfare analysis for … discrete choice that does not suffer from these drawbacks. We first adapt the broad class of individual welfare measures …

Empirical welfare analyses often impose stringent parametric assumptions on individuals’ preferences and neglect … unobserved preference heterogeneity. In this paper, we develop a framework to conduct individual and social welfare analysis for … discrete choice that does not suffer from these drawbacks. We first adapt the broad class of individual welfare measures …

endogenous information acquisition, using tailored surveys of firms and households. First, we show that firms perceive a greater … exposure to exchange rate movements than households, which is reflected in higher levels of information acquisition and less … rate information strongly increases in various proxies for stake size. Second, households who perceive higher costs of …

worse off in terms of welfare, as the dividend income accruing to its residents declines. Accordingly, the bonus tax can be … interpreted as a transfer from the worldwide shareholders to the government levying the tax. However, the welfare results may be … reversed when manager relocation is an alternative. In this case, welfare in the country introducing the tax is lower than in …

higher social welfare. A substantial empirical literature establishes that workers reciprocate gifts in the form of higher … hypotheses and confirms the behavioral and welfare implications …

We analyze the welfare implications of property taxation. Using a sufficient statistics approach, we show that the tax … inelastic. Combining reduced form estimates with our theoretical framework, we simulate the welfare effects of property taxes …

switch to private provision welfare improving for all agents including public employees. …

to avoid losses. In this paper, we provide the first welfare analysis under reference-dependent preferences. We decompose … the welfare impact of changes in reference points and prices into direct and behavioral effects, and describe how these … grounded in common empirical findings, we find that lowering reference points robustly improves welfare, while the welfare …

affects trade patterns and economic welfare. We find that linguistic similarity within a country accounts for about 10 percent … demonstrates that domestic language diversity has significant implications for Canada’s welfare but also sizable economic …

This paper analyzes nature protection by a social planner under different ?utilitarian? social welfare functions. For … efficient allocations when social welfare is anthropocentric (only consumers have positive welfare weights), and when social … welfare is nonanthropocentric (all species have positive welfare weights). Not surprisingly, biocentric social welfare calls …