Welfare Economics of Public Policy: A Practical Approach to Project and Policy Evaluation

Welfare Economics of Public Policy: A Practical Approach to Project and Policy Evaluation

by Richard E. Just, Andrew Schmitz, Darrell L. Hueth
     
 

ISBN-10: 1843766884

ISBN-13: 9781843766889

Pub. Date: 01/01/2005

Publisher: Elgar, Edward Publishing, Inc.

Building on willingness-to-pay (WTP) measures as the foundation for applied welfare economics, Just (U. of Maryland), Hueth (U. of Maryland and Universidad de Los Andes, Colombia) and Schmitz (U. of Florida and U. of California Berkeley) develop measures for firms and households where households are viewed as both consumers and owner/sellers of resources. They present…  See more details below

Overview

Building on willingness-to-pay (WTP) measures as the foundation for applied welfare economics, Just (U. of Maryland), Hueth (U. of Maryland and Universidad de Los Andes, Colombia) and Schmitz (U. of Florida and U. of California Berkeley) develop measures for firms and households where households are viewed as both consumers and owner/sellers of resources. They present possibilities for approximating WTP with consumer surplus, measuring WTP exactly (subject to errors in existing econometric work), and using duality theory to specify econometric equations consistent with theory. Several chapters cover specific areas of welfare measurement under imperfect competition, uncertainty, incomplete information, externalities and dynamic considerations. Annotation ©2004 Book News, Inc., Portland, OR

Product Details

ISBN-13:
9781843766889
Publisher:
Elgar, Edward Publishing, Inc.
Publication date:
01/01/2005
Pages:
688
Product dimensions:
6.72(w) x 9.94(h) x 1.74(d)

Customer Reviews

Average Review:

Write a Review

and post it to your social network

     

Most Helpful Customer Reviews

See all customer reviews >