Welfare analysis when budget constraints are nonlinear: the case of flood hazard reduction.
Welfare analysis when budget constraints are nonlinear is considered in relation to flood hazard reduction. Nonlinear budget constraints arise when goods have a “quality” dimension or possess “characteristics” and the price of the composite good is a nonlinear function of its characteristics. Homo...
| Publicado en: | Journal of Environmental Economics & Management Vol. 26; pp. 181 - 200 |
|---|---|
| Autores principales: | , , |
| Formato: | Artículo |
| Publicado: |
Academic Press Inc.
March 1994
|
| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=512405416&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 512405416 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00950696 EEM jtl: Journal of Environmental Economics & Management issn: 00950696 maglogo: N pubinfo: dt: March 1994 vid: 26 pid: 735 pub: Academic Press Inc. artinfo: ui: 512405416 10.1006/jeem.1994.1011 ppf: 181 ppct: 19 formats: tig: atl: Welfare analysis when budget constraints are nonlinear: the case of flood hazard reduction. aug: au: Driscoll, Paul Dietz, Brian Alwang, Jeffrey su: Nonlinear theories Welfare economics Utility theory Flood control Economics sug: subj: Nonlinear theories Welfare economics Utility theory Flood control Economics ab: Welfare analysis when budget constraints are nonlinear is considered in relation to flood hazard reduction. Nonlinear budget constraints arise when goods have a “quality” dimension or possess “characteristics” and the price of the composite good is a nonlinear function of its characteristics. Homogeneity is usually not characteristic of indirect utility functions and demand functions when budget constraints are nonlinear. In this situation, willingness to pay methods that impose homogeneity—or fail to impose restrictions implied by nonlinear budget constraints—on demands are not suitable. A direct utility approach can be adopted as a straightforward method of estimating willingness to pay when budget constraints are nonlinear. In this way, exact and biased welfare measures are obtained without integration. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
|---|