A simple and efficient method for estimating the magnitude and precision of welfare changes: comment

A recent article (Breslaw and Smith, 1995) published in this journal provided an iterative numerical technique for computing the welfare effects of price changes. In this note we take issue with the application used to demonstrate this technique. In particular, we show that the demands used are inappropriate and that the authors incorrectly interpret the precision of the estimates of welfare change. Copyright © 2002 John Wiley & Sons, Ltd.

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Year of publication:	2002
Authors:	Irvine, Ian J. ; Sims, William A.
Published in:	Journal of Applied Econometrics. - John Wiley & Sons, Ltd.. - Vol. 17.2002, 1, p. 81-83
Publisher:	John Wiley & Sons, Ltd.

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Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005247804