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

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.

General

Imprint:	World Scientific Publishing Co Pte Ltd
Country of origin:	Singapore
Release date:	May 2022
Authors:	Thijs ten Raa
Dimensions:	158 x 236 x 15mm (L x W x T)
Format:	Hardcover
Pages:	132
ISBN-13:	978-981-12-4978-5
Categories:	Books > Business & Economics > Economics > Microeconomics > General
LSN:	981-12-4978-4
Barcode:	9789811249785

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