Measuring consumer surplus with unknown Hicksian demands.

An intuitive, computationally simple, and accurate measure of welfare change is proposed in cases where estimated demand and supply functions do not yield an easily recoverable cost or utility function. This procedure for measuring consumer surplus is based upon what is termed the Slutsky compensate...

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Bibliographic Details

Published in:	American Economic Review Vol. 88; no. 1; pp. 314 - 323
Main Authors:	Irvine, Ian J., Sims, William A.
Format:	Article
Published:	American Economic Association March 1998
Subjects:	Substitution (Economics) Consumers' surplus Labor supply Welfare economics
Online Access:	View this record in EBSCOhost