Reference-price-independent welfare prescriptions
A number of studies have evaluated the social welfare impact of price and income changes using equivalent incomes that are computed at some reference price vector, and an aggregator with these equivalent incomes as arguments in place of a social welfare function. This paper investigates the impact of the choice of the reference price vector on the results of such exercises, distinguishing the case of individualized prices from the constrained case where all individuals face the same price vector. We characterize preferences and aggregators leading to reference-price-independent welfare prescriptions.
(This abstract was borrowed from another version of this item.)
If 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.
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.:
- Ugo Colombino & Daniela del Boca, 1990.
"The Effect of Taxes on Labor Supply in Italy,"
Journal of Human Resources,
University of Wisconsin Press, vol. 25(3), pages 390-414.
- Colombino, Ugo & Del Boca, Daniela, 1989. "The Effect Of Taxes On Labor Supply In Italy," Working Papers 89-30, C.V. Starr Center for Applied Economics, New York University.
- W. M. Gorman, 1968. "The Structure of Utility Functions," Review of Economic Studies, Oxford University Press, vol. 35(4), pages 367-390.
- Blackorby, Charles & Donaldson, David, 1988. "Money metric utility: A harmless normalization?," Journal of Economic Theory, Elsevier, vol. 46(1), pages 120-129, October.
- Roberts, Kevin, 1980. "Price-Independent Welfare Prescriptions," Empirical Economics, Springer, vol. 13(3), pages 277-297, June.
- Roberts, Kevin, 1980. "Price-independent welfare prescriptions," Journal of Public Economics, Elsevier, vol. 13(3), pages 277-297, June.
- Willig, Robert D, 1981. "Social Welfare Dominance," American Economic Review, American Economic Association, vol. 71(2), pages 200-204, May.
- John Muellbauer, 1974. "Inequality Measures, Prices and Household Composition," Review of Economic Studies, Oxford University Press, vol. 41(4), pages 493-504.
- King, Mervyn A., 1983. "Welfare analysis of tax reforms using household data," Journal of Public Economics, Elsevier, vol. 21(2), pages 183-214, July.
- Weymark, John A, 1985. "Money-Metric Utility Functions," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 26(1), pages 219-232, February.
- Slivinski, Alan D., 1983. "Income distribution evaluation and the law of one price," Journal of Public Economics, Elsevier, vol. 20(1), pages 103-112, February.
- Atkinson, Anthony B., 1970. "On the measurement of inequality," Journal of Economic Theory, Elsevier, vol. 2(3), pages 244-263, September. Full references (including those not matched with items on IDEAS)