Aggregate Consumer Behavior and the Measurement of Social Welfare
AbstractThis paper describes a new approach to normative economics, combining the theory of social choice with econometric modeling of aggregate consumer behavior. The author first derives a system of aggregate demand functions by exact aggregation over individual demand functions. He then constructs measures of individual welfare from systems of individual demand functions. Finally, the author incorporates these measures into a social welfare function, introducing ethical assumptions based on horizontal and vertical equity. To illustrate the application of this approach, he considers the U.S. standard of living and its cost over the period 1947-85. Copyright 1990 by The Econometric Society.
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 Econometric Society in its journal Econometrica.
Volume (Year): 58 (1990)
Issue (Month): 5 (September)
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Hillinger, Claude, 2007.
"Measuring real value and inflation,"
Discussion Papers in Economics
2090, University of Munich, Department of Economics.
- Hillinger, Claude, 2008. "Measuring Real Value and Inflation," Economics - The Open-Access, Open-Assessment E-Journal, Kiel Institute for the World Economy, vol. 2(20), pages 1-26.
- Vincenzo Atella & Jay S. Coggins & Federico Perali, 2004.
"Aversion to Inequality in Italy and its Determinants,"
CEIS Research Paper
56, Tor Vergata University, CEIS.
- Vincenzo Atella & Jay Coggins & Federico Perali, 2005. "Aversion to inequality in Italy and its determinants," Journal of Economic Inequality, Springer, vol. 2(2), pages 117-144, January.
- Vincenzo Atella & Jay Coggins & Federico Perali, 2004. "Aversion to inequality in Italy and its determinants," Journal of Economic Inequality, Springer, vol. 2(2), pages 117-144, August.
- Vincenzo Atella & J. Coggins & Federico Perali, 2002. "Aversion to inequality in Italy and its determinants," CHILD Working Papers wp03_03, CHILD - Centre for Household, Income, Labour and Demographic economics - ITALY.
- Ada Ferrer-i-Carbonell, 2002. "Subjective Questions to Measure Welfare and Well-being," Tinbergen Institute Discussion Papers 02-020/3, Tinbergen Institute.
- Migdalas, A. & Baourakis, G. & Kalogeras, N. & Meriem, H. B., 2004. "Sector modeling for the prediction and evaluation of Cretan olive oil," European Journal of Operational Research, Elsevier, vol. 152(2), pages 454-464, January.
- Marshall Reinsdorf & Jack E. Triplett, 2009. "A Review of Reviews: Ninety Years of Professional Thinking About the Consumer Price Index," NBER Chapters, in: Price Index Concepts and Measurement, pages 17-83 National Bureau of Economic Research, Inc.
- LaFrance, Jeffrey T. & Pope, Rulon D, 2007.
"Homogeneity and supply,"
CUDARE Working Paper Series
1043, University of California at Berkeley, Department of Agricultural and Resource Economics and Policy.
- LaFrance, Jeffrey T & Pope, Rulon D., 2007. "Homogeneity and Supply," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt9kw967kf, Department of Agricultural & Resource Economics, UC Berkeley.
- Laisney, François, 1991. "Mikroökonometrische Untersuchung von Aggregationsproblemen: Eine partielle Übersicht," ZEW Discussion Papers 91-03, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
- Gould, Brian W., 1996. "Factors Affecting U.S. Demand For Reduced-Fat Fluid Milk," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 21(01), July.
- Claude Hillinger, 2001. "Money Metric, Consumer Surplus and Welfare Measurement," German Economic Review, Verein für Socialpolitik, vol. 2(2), pages 177-193, 05.
- Kjell Brekke & Hilde Lurå & Karine Nyborg, 1996. "Allowing disagreement in evaluations of social welfare," Journal of Economics, Springer, vol. 63(3), pages 303-324, October.
- Claude Hillinger, 2002. "A General Theory of Price and Quantity Aggregation and Welfare Measurement," CESifo Working Paper Series 818, CESifo Group Munich.
- repec:dgr:uvatin:2002020 is not listed on IDEAS
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing) or (Christopher F. Baum).
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.