Welfare measurement and representative consumer theory

V. Kerry Smith; Roger Von Haefen

doi:10.1016/s0165-1765(97)81881-2

Welfare measurement and representative consumer theory

V. Kerry Smith, Roger Von Haefen

Research output: Contribution to journal › Article › peer-review

4 Scopus citations

Abstract

This paper generalizes results from linking individual random utility and aggregate representative individual demand models, to consider a comparable relation for the willingness to pay functions for quality attributes of marketed goods. It also suggests how the logic can be used to describe links between choice occasion and aggregate models (across occasions) for an individual.

Original language	English (US)
Pages (from-to)	63-67
Number of pages	5
Journal	Economics Letters
Volume	57
Issue number	1
DOIs	https://doi.org/10.1016/s0165-1765(97)81881-2
State	Published - Nov 28 1997
Externally published	Yes

Keywords

Aggregation
D10
Q2
RUM
Willingness to pay

ASJC Scopus subject areas

Finance
Economics and Econometrics

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10.1016/s0165-1765(97)81881-2

Cite this

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KW - Q2

KW - RUM

KW - Willingness to pay

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Welfare measurement and representative consumer theory

Abstract

Keywords

ASJC Scopus subject areas

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