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Nonparametric Estimation of Exact Consumers Surplus and Deadweight Loss

  • Hausman, J.A.
  • Newey, W.K.

The authors apply nonparametric regression models to estimation of demand curves of the type most often used in applied research. From the demand curve estimators they derive estimates of exact consumers surplus and deadweight loss. The authors also develop tests of the symmetry and downward sloping properties of compensated demand. They work out asymptotic normal sampling theory for kernel and series nonparametric estimators as well as for the parametric case. The paper includes an application to gasoline demand that estimates the shape of the demand curve and the average magnitude of welfare loss from a tax on gasoline. Copyright 1995 by The Econometric Society.

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Paper provided by Massachusetts Institute of Technology (MIT), Department of Economics in its series Working papers with number 93-2.

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Length: 41 pages
Date of creation: 1992
Date of revision:
Handle: RePEc:mit:worpap:93-2
Contact details of provider: Postal: MASSACHUSETTS INSTITUTE OF TECHNOLOGY (MIT), DEPARTMENT OF ECONOMICS, 50 MEMORIAL DRIVE CAMBRIDGE MASSACHUSETTS 02142 USA
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Web page: http://econ-www.mit.edu/

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