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Measurement of Welfare Change: A Review

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  • Zuhair A. Hassan

Abstract

Three measure commonly used to evaluate the consumer welfare implications of a policy change are reviewed. The notion of consumer surplus is dealt with first, followed by an assessment of the concepts of compensating variation and equivalent variation. The relationships among the three concepts are also considered.

Suggested Citation

  • Zuhair A. Hassan, 1995. "Measurement of Welfare Change: A Review," Food and Agricultural Policy Research Institute (FAPRI) Publications 95-wp141, Food and Agricultural Policy Research Institute (FAPRI) at Iowa State University.
  • Handle: RePEc:ias:fpaper:95-wp141
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    References listed on IDEAS

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    1. Van Kooten, G. C., 1987. "The Economic Impacts on Consumers of Government Intervention in the Poultry and Egg Sectors: A Comparison of Alternative Welfare Measures," Working Papers 243873, Agriculture and Agri-Food Canada.
    2. Shogren, Jason F. & Seung Y. Shin & Dermot J. Hayes & James B. Kliebenstein, 1994. "Resolving Differences in Willingness to Pay and Willingness to Accept," American Economic Review, American Economic Association, vol. 84(1), pages 255-270, March.
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