Bhattacharya, Debopam - In: Quantitative economics : QE ; journal of the … 9 (2018) 2, pp. 571-615
This paper develops nonparametric methods for welfare‐analysis of economic changes in the common setting of multinomial … consumer surplus becomes path‐dependent, but Hicksian welfare remains well‐defined. We demonstrate that under completely … unrestricted preference‐heterogeneity and income‐effects, the distributions of Hicksian welfare are point‐identified from …