Welfare Measurement and Representative Consumer Theory

This paper generalizes results from Anderson, De Palma, and Thisse [1992] linking individual random utility and aggregate representative individual demand models, to consider a comparable relation for the willingness to pay functions for quality attributes of marketed goods. It also suggests how the logic can be used to describe links between choice occasion and aggregate models (across occasions) for an individual.


Issue Date:
1997
Publication Type:
Working or Discussion Paper
DOI and Other Identifiers:
Record Identifier:
https://ageconsearch.umn.edu/record/10646
PURL Identifier:
http://purl.umn.edu/10646
Total Pages:
11
JEL Codes:
DG1; Q2
Series Statement:
Discussion Paper 97-32




 Record created 2017-04-01, last modified 2020-10-28

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