Chiappori, Pierre-André; Meghir, Costas; Okuyama, Yoko - National Bureau of Economic Research - 2024
In this paper we develop a novel approach to measuring individual welfare within households, recognizing that …. We construct a money metric measure of welfare that accounts for public goods (by using personalized prices) and the … have much stronger preferences for both public goods and this has critical implications for the distribution of welfare in …