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Consumers' surplus when individuals lack integrated preferences: A development of some ideas from Dupuit.

In modern economics, consumers' surplus is understood as the sum of individuals' compensating variations, defined by reference to well-behaved preferences. If individuals lack integrated preferences, as behavioural economics suggests they often do, consumers' surplus cannot be defined. However, Dupu...

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Published in:European Journal of the History of Economic Thought Vol. 22; no. 6; pp. 1042 - 1064
Main Author: Sugden, Robert
Format: Article
Published: Taylor & Francis Ltd Dec2015
Subjects:
Consumers' surplus
Consumer preferences research
Prices
Demand function
Dupuit, J. (Jules), 1804-1866
Online Access:View this record in EBSCOhost