Capéau, Bart; De Sadeleer, Liebrecht; Maes, Sebastiaan; … - 2021
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 …