IDEAS home Printed from https://ideas.repec.org/p/ags/uerscs/279727.html
   My bibliography  Save this paper

Impacts On Consumers: Welfare Economics In The Multiproduct Case

Author

Listed:
  • Forbush, Marie Leigh
  • Gum, Russell
  • Mertin, William E.
  • Cory, Dennis
  • Weisz, Reuben N.
  • Teigen, Llyod

Abstract

Measurement of net benefits experienced by consumers is a fundamental component in any comprehensive policy impact analysis. Various methods are employed by economists to gauge impacts on consumers. The objective of this research is to test empirically alternate approaches to measurement of consumer welfare. The validity, accuracy and usefulness of each measure is examined. The empirical test evaluates the economic impacts of the reduction in corn yields.

Suggested Citation

  • Forbush, Marie Leigh & Gum, Russell & Mertin, William E. & Cory, Dennis & Weisz, Reuben N. & Teigen, Llyod, 1980. "Impacts On Consumers: Welfare Economics In The Multiproduct Case," Economics Statistics and Cooperative Services (ESCS) Reports 279727, United States Department of Agriculture, Economic Research Service.
    • Handle: RePEc:ags:uerscs:279727
    DOI: 10.22004/ag.econ.279727
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/279727/files/AGE81917546_80-02.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.279727?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. 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 741-799, December.
    2. Hause, John C, 1975. "The Theory of Welfare Cost Measurement," Journal of Political Economy, University of Chicago Press, vol. 83(6), pages 1145-1182, December.
    3. A. Henderson, 1941. "Consumer's Surplus and the Compensating Variation," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 8(2), pages 117-121.
    4. Burns, Michael E, 1973. "A Note on the Concept and Measure of Consumer's Surplus," American Economic Review, American Economic Association, vol. 63(3), pages 335-344, June.
    5. Irene M. Gordon & Jack L. Knetsch, 1979. "Consumer's Surplus Measures and the Evaluation of Resources," Land Economics, University of Wisconsin Press, vol. 55(1), pages 1-10.
    6. Boutwell, Wayne A. & Edwards, Clark & Haidacher, Richard C. & Hogg, Howard C. & Kost, William E. & Penn, J.B. & Roop, J.M. & Quance, Leroy, 1976. "Comprehensive Forecasting And Projection Models In The Economic Research Service," Journal of Agricultural Economics Research, United States Department of Agriculture, Economic Research Service, vol. 28(2), pages 1-11, April.
    7. Willig, Robert D, 1976. "Consumer's Surplus without Apology," American Economic Review, American Economic Association, vol. 66(4), pages 589-597, September.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Martin, William E. & Tinney, J. Craig & Gum, Russell L., 1978. "Comparing Estimates of Market and Nonmarket Values for Products of a Given Land Base," Economics Statistics and Cooperative Services (ESCS) Reports 329532, United States Department of Agriculture, Economic Research Service.
    2. Donaldson, David, 1992. "On The Aggregation Of Money Measures Of Well-Being In Applied Welfare Economics," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 17(1), pages 1-12, July.
    3. Small, Kenneth A & Rosen, Harvey S, 1981. "Applied Welfare Economics with Discrete Choice Models," Econometrica, Econometric Society, vol. 49(1), pages 105-130, January.
    4. Pope, Rulon D., 1984. "The Economic Value Of Consumer Information: A Selected, Annotated Bibliography," Staff Reports 278877, United States Department of Agriculture, Economic Research Service.
    5. M. Ali Khan & Edward E. Schlee, 2016. "On Lionel McKenzie's 1957 intrusion into 20th‐century demand theory," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 49(2), pages 589-636, May.
    6. Banzhaf, H. Spencer, 2016. "Constructing markets: environmental economics and the contingent valuation controversy," MPRA Paper 78814, University Library of Munich, Germany.
    7. Alan J. Auerbach & Harvey S. Rosen, 1980. "Will the Real Excess Burden Please Stand Up? (Or, Seven Measures in Search of a Concept)," NBER Working Papers 0495, National Bureau of Economic Research, Inc.
    8. Firici, M. Carmen & Thomson, Kenneth J., 2002. "Distributional Impacts of CAP Adoption on Romanian Households," 2002 International Congress, August 28-31, 2002, Zaragoza, Spain 24818, European Association of Agricultural Economists.
    9. Yew-Kwang Ng, 2010. "Consumer Surplus," Chapters, in: Mark Blaug & Peter Lloyd (ed.), Famous Figures and Diagrams in Economics, chapter 12, Edward Elgar Publishing.
    10. Loehman, Edna T., 1991. "Alternative Measures of Benefit for Nonmarket Goods Which are Substitutes or Complements for Market Goods," Working Papers 115913, Regional Research Project NE-165 Private Strategies, Public Policies, and Food System Performance.
    11. Walter Hettich, 1976. "Distribution in Benefit-Cost Analysis: A Review of Theoretical Issues," Public Finance Review, , vol. 4(2), pages 123-150, April.
    12. Irina Klytchnikova & Michael Lokshin, 2009. "Measuring Welfare Gains from Better Quality Infrastructure," Journal of Infrastructure Development, India Development Foundation, vol. 1(2), pages 87-109, December.
    13. Hubbard, Carmen & Thomson, Kenneth J., 2007. "Romania's accession to the EU: Short-term welfare effects on food consumers," Food Policy, Elsevier, vol. 32(1), pages 128-140, February.
    14. Donald K. Richter, 1977. "Games Pythagoreans Play," Public Finance Review, , vol. 5(4), pages 495-515, October.
    15. Sayman, Serdar & Onculer, Ayse, 2005. "Effects of study design characteristics on the WTA-WTP disparity: A meta analytical framework," Journal of Economic Psychology, Elsevier, vol. 26(2), pages 289-312, April.
    16. Dale O. Stahl II, 1984. "Cardinal vs. Characteristic Indices of Preference for Applied Welfare Economics," Public Finance Review, , vol. 12(4), pages 473-486, October.
    17. Louis Mahé, 1977. "Le coût des fluctuations cycliques agricoles pour la collectivité," Revue Économique, Programme National Persée, vol. 28(6), pages 974-1004.
    18. Brown, Thomas C. & Gregory, Robin, 1999. "Why the WTA-WTP disparity matters," Ecological Economics, Elsevier, vol. 28(3), pages 323-335, March.
    19. Horowitz, John K. & McConnell, Kenneth E., 2002. "A Review of WTA/WTP Studies," Journal of Environmental Economics and Management, Elsevier, vol. 44(3), pages 426-447, November.
    20. Slemrod, Joel & Yitzhaki, Shlomo, 2001. "Integrating Expenditure and Tax Decisions: The Marginal Cost of Funds and the Marginal Benefit of Projects," National Tax Journal, National Tax Association;National Tax Journal, vol. 54(2), pages 189-202, June.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:uerscs:279727. See general information about how to correct material in RePEc.

    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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/ersgvus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.