Aufsatz(elektronisch)#61Oktober 1995
CONSUMER'S SURPLUS: SIMPLE SOLUTIONS TO AN OLD PROBLEM
In: Bulletin of economic research, Band 47, Heft 4, S. 285-294
ISSN: 1467-8586
ABSTRACTThe paper presents a concise account of recent results on the axiomatization of various welfare measures. Following the introduction and discussion of some elementary properties that a welfare measure should satisfy, valid measures are derived. In particular, the Hicksian equivalent and compensating variation and a measure based on the money metric are characterized.
