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The willingness to pay for insurance captures the value of insurance against only the risk that remains when choices are observed. This paper develops tools to measure the ex-ante expected utility impact of insurance subsidies and mandates when choices are observed after some insurable...
Persistent link: https://www.econbiz.de/10012922971
Ranking information is often provided to improve task performance, yet its welfare and spillover effects are rarely measured. We measure these effects in a controlled laboratory experiment, in which participants conduct a simple cognitive task and report their willingness-to-pay (WTP) to receive...
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This book cleverly integrates the research on welfare measurement and social accounting in imperfect market economies …. In their previously acclaimed volume, Welfare Measurement, Sustainability and Green National Accounting, the authors … emerging issues in social accounting -- 9. Welfare measurement under uncertainty …
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Revealed-preference measures of willingness to pay (WTP) capture the value of insurance only against the risk that remains when choosing insurance. This paper provides a method to translate observed market WTP and cost curves into an ex-ante value of insurance that can analyze the impact of...
Persistent link: https://www.econbiz.de/10012453244
We propose and implement a new approach that allows us to estimate income-specific changes in household welfare in contexts where well-measured prices are not available for important subsets of consumption. Using rich but widely available expenditure survey microdata, we show that we can recover...
Persistent link: https://www.econbiz.de/10013310331