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Economic Surplus Concepts and Their Use in Benefit Cost Analysis

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Author Info
Randall, Alan
Abstract

The conceptual bases for project evaluation, the use of Hicksian consumer's surplus concepts of value, and the implementation of the currently accepted techniques for valuing non-marketed goods and services, are developed in some detail. While the primary focus is on partial equilibrium analysis of changes pertaining to a single good, some of the complications introduced by multiple changes and general equilibrium conditions are considered.

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File URL: http://purl.umn.edu/12241
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Publisher Info
Article provided by Australian Agricultural and Resource Economics Society in its journal Review of Marketing and Agricultural Economics.

Volume (Year): 50 (1982)
Issue (Month): 02 (August)
Pages:
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Handle: RePEc:ags:remaae:12241

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Related research
Keywords: Consumer/Household Economics; Demand and Price Analysis;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Myrick Freeman, A. III, 1974. "On estimating air pollution control benefits from land value studies," Journal of Environmental Economics and Management, Elsevier, vol. 1(1), pages 74-83, May. [Downloadable!] (restricted)
  2. Randall, Alan & Ives, Berry & Eastman, Clyde, 1974. "Bidding games for valuation of aesthetic environmental improvements," Journal of Environmental Economics and Management, Elsevier, vol. 1(2), pages 132-149, August. [Downloadable!] (restricted)
  3. Chipman, John S & Moore, James C, 1980. "Compensating Variation, Consumer's Surplus, and Welfare," American Economic Review, American Economic Association, vol. 70(5), pages 933-49, December. [Downloadable!] (restricted)
  4. Abelson, Peter W., 1979. "Property prices and the value of amenities," Journal of Environmental Economics and Management, Elsevier, vol. 6(1), pages 11-28, March. [Downloadable!] (restricted)
  5. Harrison, David Jr. & Rubinfeld, Daniel L., 1978. "Hedonic housing prices and the demand for clean air," Journal of Environmental Economics and Management, Elsevier, vol. 5(1), pages 81-102, March. [Downloadable!] (restricted)
  6. Maler, Karl-Goran, 1977. "A note on the use of property values in estimating marginal willingness to pay for environmental quality," Journal of Environmental Economics and Management, Elsevier, vol. 4(4), pages 355-369, December. [Downloadable!] (restricted)
  7. Harberger, Arnold C, 1971. "Three Basic Postulates for Applied Welfare Economics: An Interpretive Essay," Journal of Economic Literature, American Economic Association, vol. 9(3), pages 785-97, September. [Downloadable!] (restricted)
  8. Currie, John Martin & Murphy, John A & Schmitz, Andrew, 1971. "The Concept of Economic Surplus and its Use in Economic Analysis," Economic Journal, Royal Economic Society, vol. 81(324), pages 741-99, December. [Downloadable!] (restricted)
  9. Sinden, J.A., 1980. "Pangloss, Pandora and Pareto for the Aspiring Benefit-Cost Analyst," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 48(02), August. [Downloadable!]
  10. Brookshire, David S, et al, 1982. "Valuing Public Goods: A Comparison of Survey and Hedonic Approaches," American Economic Review, American Economic Association, vol. 72(1), pages 165-77, March. [Downloadable!] (restricted)
  11. Greenley, Douglas A & Walsh, Richard G & Young, Robert A, 1981. "Option Value: Empirical Evidence from a Case Study of Recreation and Water Quality," The Quarterly Journal of Economics, MIT Press, vol. 96(4), pages 657-73, November. [Downloadable!] (restricted)
  12. Brown, Gardner M, Jr & Pollakowski, Henry O, 1977. "Economic Valuation of Shoreline," The Review of Economics and Statistics, MIT Press, vol. 59(3), pages 272-78, August. [Downloadable!] (restricted)
  13. Smith, Vernon L, 1980. "Experiments with a Decentralized Mechanism for Public Good Decisions," American Economic Review, American Economic Association, vol. 70(4), pages 584-99, September. [Downloadable!] (restricted)
  14. Sinden, J.A., 1978. "Estimation Of Consumer'S Surplus Values For Land Policies," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 22(02-03). [Downloadable!]
Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Young, R., 1992. "Evaluating Long-Lived Projects: The Issue Of Inter-Generational Equity," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 36(03), December. [Downloadable!]
  2. Young, Ralph, 1991. "The Economic Significance of Environmental Resources: A Review of the Evidence," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 59(03), December. [Downloadable!]
  3. Pannell, David J., 1988. "Weed Management: A Review of Applied Economics Research in Australia," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 56(03), December. [Downloadable!]
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