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Bennet indicators Prices Weak axiom 1
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Cross, Robin M. 1 Färe, Rolf 1
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Economics Letters 1
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Value data and the Bennet price and quantity indicators
Cross, Robin M.; Färe, Rolf - In: Economics Letters 102 (2009) 1, pp. 19-21
We derive value-based Bennet indicators, expressed in terms of revenues and expenditures (values) and relative prices, rather than prices and quantities. We then show how relative price information is recoverable from value data when agents are rational.
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