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Sharp nonparametric bounds are derived for Hicksian compensating and equivalent variations. These 'i-bounds' generalize earlier results of Blundell, Browning and Crawford (2008). We show that their e-bounds are sharp under the Weak Axiom of Revealed Preference (WARP). They do not require...
Persistent link: https://www.econbiz.de/10013101454
This paper presents an approach for the estimation of welfare effects of tax policy changes under heterogeneity in consumer preferences. The approach is applied to evaluate the welfare effects of current tax advantages for electric vehicles supplied as fringe benefits by employers. Drawing on...
Persistent link: https://www.econbiz.de/10010358445
Harberger (1971) proposes that the consumer surplus should be used to measure the individual utility and the social welfare. "Since Harberger's paper, the limitation and pitfall of consumer's surplus have been demonstrated systematically and definitively by Chipman and Moore among many others"...
Persistent link: https://www.econbiz.de/10014145468
The paper provides a rigorous derivation of the "welfare triangle approximation" (WTA), which is at the center of cost benefit analysis. The result is generalized by showing that the WTA is one of two dual expressions, one of which approximates the change in real consumption, the other the...
Persistent link: https://www.econbiz.de/10014140526
empirical measures. Key Words: Cost-of-living, Consumer Surplus, Money Metric, Real Consumption, Welfare measurement …
Persistent link: https://www.econbiz.de/10014178559
Persistent link: https://www.econbiz.de/10001688433
of distribution functions reveals the combined effect ofsystematic differences in measurement and measurement error …. Using a pseudo cross-section approach, Ieliminate the effect of measurement error and find that using a high level of … examine the consequences of using the short consumption questionnaire in welfareanalysis. Higher relative measurement error in …
Persistent link: https://www.econbiz.de/10011317438
In this paper we develop an approach to measuring inequality and poverty that recognizes the fact that individuals within households may have both different preferences and differential access to resources. We argue that a measure based on estimates of the sharing rule is inadequate as an...
Persistent link: https://www.econbiz.de/10013053289
Studies of inequality often ignore resource allocation within the household. In doing so they miss an important element of the distribution of welfare that can vary dramatically depending on overall environmental and economic factors. Thus, measures of inequality that ignore intra household...
Persistent link: https://www.econbiz.de/10013053293
Persistent link: https://www.econbiz.de/10013283760