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Shaking Up Measures Of Consumer Economic Well-being Ten Raa, Thijs (Utrecht School Of Economics, The Netherlands)
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Shaking Up Measures Of Consumer Economic Well-being
Ten Raa, Thijs (Utrecht School Of Economics, The Netherlands)
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.
100 pages
| Media | Books Hardcover Book (Book with hard spine and cover) |
| Released | May 17, 2022 |
| ISBN13 | 9789811249785 |
| Publishers | World Scientific Publishing Co Pte Ltd |
| Pages | 132 |
| Dimensions | 236 × 158 × 15 mm · 338 g |
| Language | English |
