Willingness-to-pay and the equivalence approach
AbstractThis paper describes the evaluation of individual situations in terms of equivalent incomes (or money-metric utilities) computed from ordinary income by adding or subtracting various terms of willingness-to-pay. It discusses the origin of the approach and its connection with social choice theory, fair allocation theory, and philosophical principles. It shows how this has been generalized into a broader ?equivalence approach?, and argues that the criticisms that have been raised against this methodology are not compelling. It also examines the challenges to be addressed for empirical applications of the approach.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Dalloz in its journal Revue d'économie politique.
Volume (Year): 121 (2011)
Issue (Month): 1 ()
Contact details of provider:
Web page: http://www.cairn.info/revue-d-economie-politique.htm
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- John A Weymark, 2013. "Conundrums for Nonconsequentialists," Vanderbilt University Department of Economics Working Papers 13-00010, Vanderbilt University Department of Economics.
- Carine Van de Voorde & Erik Schokkaert & Stéphane Luchini & Marc Fleurbaey, 2012. "Évaluation des politiques de santé : pour une prise en compte équitable des intérêts des populations," Économie et Statistique, Programme National Persée, vol. 455(1), pages 11-36.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jean-Baptiste de Vathaire).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.