Radner’s cost–benefit analysis in the small: An equivalence result

I show that local changes in five welfare measures are equal: a measure proposed by Radner (1993); consumers’ surplus; the Slutsky change in real wealth; the Divisia quantity index, and Debreu’s (1951) coefficient of resource utilization (the last two rescaled in units of a numeraire good).

MoreLess

Year of publication:	2013
Authors:	Schlee, Edward E.
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 120.2013, 3, p. 570-572
Publisher:	Elsevier
Subject:	Local cost–benefit analysis \| Consumers’ surplus \| Divisia index \| Slutsky compensation \| Coefficient of resource utilization

More details

Type of publication:	Article
Classification:	D61 - Allocative Efficiency; Cost-Benefit Analysis ; D8 - Information and Uncertainty
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010681767