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Measuring real value and inflation
Hillinger, Claude - 2007
derive these measures are largely unsatisfactory. The axiomatic theory of indexes does not make clear which economic problem …. For example, the theory of the CPI is usually developed for a single consumer with homothetic preferences and then applied … to a large aggregate of diverse consumers with non-homothetic preferences. In this paper I develop a unitary theory that …
Persistent link: https://www.econbiz.de/10010427498
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Too much information sharing? Welfare effects of sharing acquired cost information in oligopoly
Ganuza, Juan José; Jansen, Jos - 2010
By using general information structures and precision criteria based on the dispersion of conditional expectations, we study how oligopolists' information acquisition decisions may change the effects of information sharing on the consumer surplus. Sharing information about individual cost...
Persistent link: https://www.econbiz.de/10010286731
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Measuring Real Value and Inflation
Hillinger, Claude - 2008
derive these measures are largely unsatisfactory. The axiomatic theory of indexes does not make clear which economic problem …. For example, the theory of the CPI is usually developed for a single consumer with homothetic preferences and then applied … to a large aggregate of diverse consumers with non-homothetic preferences. In this paper I develop a unitary theory that …
Persistent link: https://www.econbiz.de/10010295262
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Measuring Real Value and Inflation
Hillinger, Claude - In: Economics: The Open-Access, Open-Assessment E-Journal 2 (2008) 2008-20, pp. 1-26
these measures are largely unsatisfactory. The axiomatic theory of indexes does not make clear which economic problem a … example, the theory of the CPI is usually developed for a single consumer with homothetic preferences and then applied to a …
Persistent link: https://www.econbiz.de/10010295317
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Pre-grant patent publication and cumulative innovation
Aoki, Reiko; Spiegel, Yossi - 2007
We examine the implications of pre-grant publication (PP) of patent applications in the context of a cumulative innovation model. We show that pre-grant publication of patents lead to fewer applications and fewer inventions, but it raises the probability that new technologies will reach the...
Persistent link: https://www.econbiz.de/10010270359
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Consumer welfare and unobserved heterogeneity in discrete choice models: The value of alpine road tunnels
Cerquera Dussán, Daniel; Ullrich, Hannes - 2010
We investigate the sensitivity of consumer surplus estimates to parametric assumptions on individual preference heterogeneity in a discrete choice framework. We compare results from a parametric random coefficients logit model and a recently proposed nonparametric sieve estimator. In particular,...
Persistent link: https://www.econbiz.de/10010303001
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Welfare analysis using nonseparable models
Hoderlein, Stefan; Vanhems, Anne - 2010
This paper proposes a framework to model empirically welfare effects that are associated with a price change in a population of heterogeneous consumers. Individual demands are characterized by a nonseparable model which is nonparametric in the regressors, as well as monotonic in unobserved...
Persistent link: https://www.econbiz.de/10010288365
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A Consumer Surplus Defense in Merger Control
Fridolfsson, Sven-Olof - 2007
A government wanting to promote an efficient allocation of resources as measured by the total surplus, should strategically delegate to its competition authority a welfare standard with a bias in favour of consumers. A consumer bias means that some welfare increasing mergers will be blocked....
Persistent link: https://www.econbiz.de/10010320142
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African sovereign defaults and the common framework: Divergent Chinese interests grant Western countries a "consumer surplus"
Bode, Eckhardt - 2024
Art "Konsumentenrente", weil sie zu größeren Zugeständnissen bereit sind als China. Sie könnten diesen hypothetischen …
Persistent link: https://www.econbiz.de/10014528315
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Consumer price adjustment under the microscope: Germany in a period of low inflation
Hoffmann, Johannes; Kurz-Kim, Jeong-Ryeol - 2006
We analyse the adjustment of retail and services prices in a period of low inflation, using a set of individual price data from the German Consumer Price Index that covers the years 1998 to 2003. We strong find evidence of time- and statedependent price adjustment. Most importantly, the...
Persistent link: https://www.econbiz.de/10011604698