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Economic Surplus Concepts and Their Use in Benefit Cost Analysis

  • Randall, Alan
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    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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    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
    Contact details of provider: Postal: AARES Central Office Manager, Crawford School of Public Policy, ANU, Canberra ACT 0200
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    1. Theodore Groves & John Ledyard, 1976. "Optimal Allocation of Public Goods: A Solution to the 'Free Rider Problem'," Discussion Papers 144, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    2. Randall, Alan & Stoll, John R, 1980. "Consumer's Surplus in Commodity Space," American Economic Review, American Economic Association, vol. 70(3), pages 449-55, June.
    3. 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.
    4. William D. Schulze & Ralph C. d'Arge & David S. Brookshire, 1981. "Valuing Environmental Commodities: Some Recent Experiments," Land Economics, University of Wisconsin Press, vol. 57(2), pages 151-172.
    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.
    6. Niehans, Jurg, 1971. "Money and Barter in General Equilibrium with Transaction Costs," American Economic Review, American Economic Association, vol. 61(5), pages 773-83, December.
    7. 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.
    8. Sinden, Jack 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).
    9. 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.
    10. Bradford, David F, 1970. "Benefit-Cost Analysis and Demand Curves for Public Goods," Kyklos, Wiley Blackwell, vol. 23(4), pages 775-91.
    11. 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.
    12. Boadway, Robin W, 1974. "The Welfare Foundations of Cost-Benefit Analysis," Economic Journal, Royal Economic Society, vol. 84(336), pages 926-39, December.
    13. 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.
    14. 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.
    15. Sinden, Jack 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.
    16. 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.
    17. 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.
    18. Anderson, Jock R. & Feder, Gershon, 2007. "Agricultural Extension," Handbook of Agricultural Economics, Elsevier.
    19. Willig, Robert D, 1979. "Consumer's Surplus without Apology: Reply," American Economic Review, American Economic Association, vol. 69(3), pages 469-74, June.
    20. 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.
    21. 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.
    22. Philip A. Meyer, 1979. "Publicly Vested Values for Fish and Wildlife: Criteria in Economic Welfare and Interface with the Law," Land Economics, University of Wisconsin Press, vol. 54(2), pages 223-235.
    23. 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.
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