First, I show that the expected consumer's surplus is equivalent to ex ante compensating variation if and only if the … consumer's surplus is an approximation for the consumer's welfare, measured by expected utility, also if the expenditure share … are equivalent to the von Neuman - Morgenstern utility function being quasi-linear. Second, I show that the expected …

from using consumer's surplus is small. If the price of a good is random, then the change in expected consumer's surplus …