Shaking Up Measures Of Consumer Economic Well-being (eBook)

Ten Raa Thijs Ten Raa (Autor)

eBook Download: EPUB

2022
132 Seiten
World Scientific Publishing Company (Verlag)
978-981-12-5180-1 (ISBN)

Infos

In this book the author analyzes measures of consumer well-being. The three main, neoclassical measures of well-being are the compensating variation, the equivalent variation, and consumer's surplus. The question is which of the measures of consumer well-being is the best. This book tackles the question, with a surprising outcome that is contrary to the main opinion in the literature. Prof ten Raa presents a test that measures must pass to track utility. The test will be used to sort measures in the remainder of the book. It will culminate in a variant of consumer's surplus, which he calls the consumer's index, and a generalization that applies to nonhomothetic demands. Variants of the consumer's index are presented, including ones that are applicable to demand functions with income effects, even nonlinear ones. So-called broad measures of consumer well-being, such as the Human Development Index, will be encompassed.

Produkt-Details

• Erscheint lt. Verlag: 21.4.2022
• Sprache: englisch
• Themenwelt: Wirtschaft ► Volkswirtschaftslehre ► Mikroökonomie
• ISBN-10: 981-12-5180-0 / 9811251800
• ISBN-13: 978-981-12-5180-1 / 9789811251801