Radner's cost-benefit analysis in the small: An equivalence result

Edward Schlee

doi:10.1016/j.econlet.2013.06.012

Radner's cost-benefit analysis in the small: An equivalence result

Edward Schlee

Economics

Research output: Contribution to journal › Article › peer-review

2 Scopus citations

Abstract

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).

Original language	English (US)
Pages (from-to)	570-572
Number of pages	3
Journal	Economics Letters
Volume	120
Issue number	3
DOIs	https://doi.org/10.1016/j.econlet.2013.06.012
State	Published - 2013

Keywords

Coefficient of resource utilization
Consumers' surplus
Divisia index
Local cost-benefit analysis
Slutsky compensation

ASJC Scopus subject areas

Finance
Economics and Econometrics

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10.1016/j.econlet.2013.06.012

Cite this

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title = "Radner's cost-benefit analysis in the small: An equivalence result",

abstract = "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).",

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AB - 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).

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KW - Consumers' surplus

KW - Divisia index

KW - Local cost-benefit analysis

KW - Slutsky compensation

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Radner's cost-benefit analysis in the small: An equivalence result

Abstract

Keywords

ASJC Scopus subject areas

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