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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...

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Published in:Journal of Environmental Economics & Management Vol. 26; pp. 181 - 200
Main Authors: Driscoll, Paul, Dietz, Brian, Alwang, Jeffrey
Format: Article
Published: Academic Press Inc. March 1994
Subjects:
Nonlinear theories
Welfare economics
Utility theory
Flood control
Economics
Online Access:View this record in EBSCOhost

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View this record in EBSCOhost