Valuing a new good
This paper presents a nonparametric method for calculating a lower bound on the virtual or reservation price of a new good. This allows the welfare effects of product market innovations to be investigated. We illustrate the technique using consumer panel data.
|Date of creation:||20 Jan 2004|
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The Warwick Economics Research Paper Series (TWERPS)
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- E. Rothbarth, 1941. "The Measurement of Changes in Real Income under Conditions of Rationing," Review of Economic Studies, Oxford University Press, vol. 8(2), pages 100-107.
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