Published March 1980
| Published
Journal Article
Open
Aggregate expected consumer surplus as a welfare index with an application to price stabilization
- Creators
- Rogerson, William P.
Abstract
This paper presents necessary and sufficient conditions for the expected value of consumer surplus to correctly represent a consumer's preferences. A theorem characterizing utility functions which represent preferences over conditional probabilities is used to derive this. An application to price stabilization policy is presented.
Additional Information
© 1980 The Econometric Society. This paper was written when I was supported by National Science Foundation Grant Number S.O.C. 77-08573 to Robert H. Bates. I would like to acknowledge the extremely helpful assistance rendered me in writing this paper by Robert H. Bates, Robert Forsythe, Roger Noll, James Quirk, Louis Wilde, and two anonymous referees. Formerly SSWP 205.Attached Files
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Additional details
- Eprint ID
- 83406
- Resolver ID
- CaltechAUTHORS:20171121-141922033
- SOC77-8573
- NSF
- Created
-
2017-11-21Created from EPrint's datestamp field
- Updated
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2021-11-15Created from EPrint's last_modified field