Expected consumer’s surplus as an approximate welfare measure
Author
Abstract
(This abstract was borrowed from another version of this item.)
Suggested Citation
DOI: 10.1007/s00199-007-0210-2
Download full text from publisher
As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.
Other versions of this item:
- Edward E Schlee, 2004. "Expected Consumer's Surplus as an Approximate Welfare Measure," Econometric Society 2004 North American Summer Meetings 97, Econometric Society.
- Edward Schlee, "undated". "Expected Consumer's Surplus as an Approximate Welfare Measure," Working Papers 2144340, Department of Economics, W. P. Carey School of Business, Arizona State University.
- Edward Schlee, "undated". "Expected Consumer's Surplus as an Approximate Welfare Measure," Working Papers 2133375, Department of Economics, W. P. Carey School of Business, Arizona State University.
References listed on IDEAS
- Paul Milgrom & Ilya Segal, 2002. "Envelope Theorems for Arbitrary Choice Sets," Econometrica, Econometric Society, vol. 70(2), pages 583-601, March.
- Raymond Deneckere & Howard P. Marvel & James Peck, 1996.
"Demand Uncertainty, Inventories, and Resale Price Maintenance,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 111(3), pages 885-913.
- Howard P. Marvel & Raymond Deneckere & James Peck, 1995. "Demand Uncertainty, Inventories, and Resale Price Maintainance," Working Papers 019, Ohio State University, Department of Economics.
- Graham, Daniel A, 1981. "Cost-Benefit Analysis under Uncertainty," American Economic Review, American Economic Association, vol. 71(4), pages 715-725, September.
- Deneckere, Raymond & Marvel, Howard P & Peck, James, 1997.
"Demand Uncertainty and Price Maintenance: Markdowns as Destructive Competition,"
American Economic Review, American Economic Association, vol. 87(4), pages 619-641, September.
- Howard P. Marvel & Raymond Deneckere & James Peck, 1995. "Demand Uncertainty and Price Maintainance: Markdowns as Destructive Competition," Working Papers 018, Ohio State University, Department of Economics.
- Rogerson, William P, 1980. "Aggregate Expected Consumer Surplus as a Welfare Index with an Application to Price Stabilization," Econometrica, Econometric Society, vol. 48(2), pages 423-436, March.
- Lode Li, 1985.
"Cournot Oligopoly with Information Sharing,"
RAND Journal of Economics, The RAND Corporation, vol. 16(4), pages 521-536, Winter.
- Li, Lode., 1985. "Cournot Oligopoly with Information Sharing," Working Papers 561, California Institute of Technology, Division of the Humanities and Social Sciences.
- Rey, Patrick & Tirole, Jean, 1986.
"The Logic of Vertical Restraints,"
American Economic Review, American Economic Association, vol. 76(5), pages 921-939, December.
- Patrick Rey & Jean Tirole, 1985. "The Logic of Vertical Restraints," Working papers 396, Massachusetts Institute of Technology (MIT), Department of Economics.
- Frederick V. Waugh, 1944. "Does the Consumer Benefit from Price Instability?," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 58(4), pages 602-614.
- Xavier Vives, 1987. "Small Income Effects: A Marshallian Theory of Consumer Surplus and Downward Sloping Demand," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 54(1), pages 87-103.
- Deneckere, Raymond & Marvel, Howard P & Peck, James, 1997.
"Demand Uncertainty and Price Maintenance: Markdowns as Destructive Competition,"
American Economic Review, American Economic Association, vol. 87(4), pages 619-641, September.
- Deneckere, R. & Marvel, H.P. & Peck, J., 1995. "Demand Uncertainty and Price Maintenace : Markdowns as Destructive Competition," Working papers 9507, Wisconsin Madison - Social Systems.
- Raith, Michael, 1996. "A General Model of Information Sharing in Oligopoly," Journal of Economic Theory, Elsevier, vol. 71(1), pages 260-288, October.
- Blundell, Richard & Pashardes, Panos & Weber, Guglielmo, 1993. "What Do We Learn About Consumer Demand Patterns from Micro Data?," American Economic Review, American Economic Association, vol. 83(3), pages 570-597, June.
- Chade, Hector & Schlee, Edward, 2002. "Another Look at the Radner-Stiglitz Nonconcavity in the Value of Information," Journal of Economic Theory, Elsevier, vol. 107(2), pages 421-452, December.
- William Novshek & Hugo Sonnenschein, 1982. "Fulfilled Expectations Cournot Duopoly with Information Acquisition and Release," Bell Journal of Economics, The RAND Corporation, vol. 13(1), pages 214-218, Spring.
- Hausman, Jerry A, 1981. "Exact Consumer's Surplus and Deadweight Loss," American Economic Review, American Economic Association, vol. 71(4), pages 662-676, September.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Marco de Pinto & Laszlo Goerke, 2022.
"Cost uncertainty in an oligopoly with endogenous entry,"
Bulletin of Economic Research, Wiley Blackwell, vol. 74(4), pages 927-948, October.
- Laszlo Goerke & Marco de Pinto, 2021. "Cost Uncertainty in an Oligopoly with Endogenous Entry," IAAEU Discussion Papers 202105, Institute of Labour Law and Industrial Relations in the European Union (IAAEU).
- Anthony Creane & Kaz Miyagiwa, 2020. "Export versus FDI: Learning through propinquity," International Journal of Economic Theory, The International Society for Economic Theory, vol. 16(4), pages 361-379, December.
- Ioan Lucian ALEXA, 2015. "The effects of competition regulations on mobile telecommunication markets," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(2(603), S), pages 303-310, Summer.
- Soetevent, Adriaan R. & Bruzikas, Tadas, 2016.
"Risk and Loss Aversion, Price Uncertainty and the Implications for Consumer Search,"
Research Report
16015-EEF, University of Groningen, Research Institute SOM (Systems, Organisations and Management).
- Adriaan R. Soetevent & Tadas Bruzikas, 2016. "Risk and Loss Aversion, Price Uncertainty and the Implications for Consumer Search," Tinbergen Institute Discussion Papers 16-049/VII, Tinbergen Institute.
- repec:agr:journl:v:2(602):y:2015:i:2(602):p:303-310 is not listed on IDEAS
- Juliet Elu & Gregory Price, 2015. "Consumer’s Surplus with a Racial Apology? Black Relative to Non-Black Inequality in the Welfare Gains of Fuel-Efficient Cars and Trucks," The Review of Black Political Economy, Springer;National Economic Association, vol. 42(1), pages 135-154, June.
- Dimitrova, Magdalena & Schlee, Edward E., 2003. "Monopoly, competition and information acquisition," International Journal of Industrial Organization, Elsevier, vol. 21(10), pages 1623-1642, December.
- CREANE, Anthony & MIYAGIWA, Kaz, 2015. "Exporting versus foreign direct investment: Learning through propinquity," Discussion paper series 2015-01, Hitotsubashi Institute for Advanced Study, Hitotsubashi University.
- Anthony Creane & Thomas D. Jeitschko, 2016.
"Endogenous Entry in Markets with Unobserved Quality,"
Journal of Industrial Economics, Wiley Blackwell, vol. 64(3), pages 494-519, September.
- Anthony Creane & Thomas D. Jeitschko, 2012. "Endogenous Entry in Markets with Unobserved Quality," EAG Discussions Papers 201206, Department of Justice, Antitrust Division.
- Hayashi, Takashi, 2014. "Consumer surplus analysis under uncertainty: A general equilibrium perspective," Journal of Mathematical Economics, Elsevier, vol. 55(C), pages 154-164.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Perona, Mathieu, 2009.
"Bookshop, blockbusters and readers’ tastes: a new appraisal of the fixed book price,"
MPRA Paper
17857, University Library of Munich, Germany.
- Perona, Mathieu, 2010. "Bookshop, blockbusters and readers’ tastes: a new appraisal of the fixed book price," MPRA Paper 40308, University Library of Munich, Germany, revised 22 Sep 2010.
- Yong Liu & Michael J. Fry & Amitabh S. Raturi, 2006. "Vertically restrictive pricing in supply chains with price‐dependent demand," Naval Research Logistics (NRL), John Wiley & Sons, vol. 53(6), pages 485-501, September.
- Qu, Zhan & Raff, Horst & Schmitt, Nicolas, 2018.
"Incentives through inventory control in supply chains,"
International Journal of Industrial Organization, Elsevier, vol. 59(C), pages 486-513.
- Qu, Zhan & Raff, Horst & Schmitt, Nicolas, 2017. "Incentives through Inventory Control in Supply Chains," KCG Working Papers 7, Kiel Centre for Globalization (KCG).
- Zhan Qu & Horst Raff & Nicolas Schmitt, 2017. "Incentives through Inventory Control in Supply Chains," CESifo Working Paper Series 6705, CESifo.
- Sjaak Hurkens, 2014.
"Bayesian Nash equilibrium in “linear” Cournot models with private information about costs,"
International Journal of Economic Theory, The International Society for Economic Theory, vol. 10(2), pages 203-217, June.
- Sjaak Hurkens, 2012. "Bayesian Nash Equilibrium in ''Linear'' Cournot Models with Private Information About Cost," UFAE and IAE Working Papers 924.12, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
- Sjaak Hurkens, 2012. "Bayesian Nash Equilibrium in "Linear" Cournot Models with Private Information about Costs," Working Papers 674, Barcelona School of Economics.
- Qu, Zhan & Raff, Horst & Schmitt, Nicolas, 2016.
"A theory of intermediation in supply chains based on inventory control,"
CEPIE Working Papers
09/16, Technische Universität Dresden, Center of Public and International Economics (CEPIE).
- QU, Zhan & RAFF, Horst & SCHMITT, Nicolas, 2016. "A Theory of Intermediation in Supply Chains Based on Inventory Control," Discussion paper series HIAS-E-40, Hitotsubashi Institute for Advanced Study, Hitotsubashi University.
- Kohei Kawaguchi, 2021. "When Will Workers Follow an Algorithm? A Field Experiment with a Retail Business," Management Science, INFORMS, vol. 67(3), pages 1670-1695, March.
- Edward E. Schlee, 2013. "Surplus Maximization and Optimality," American Economic Review, American Economic Association, vol. 103(6), pages 2585-2611, October.
- Camille Cornand & Rodolphe Dos Santos Ferreira, 2020.
"The social value of information and the competition motive: price versus quantity games,"
Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 70(4), pages 1101-1137, November.
- Camille Cornand & Rodolphe dos Santos Ferreira, 2020. "The social value of information and the competition motive : price versus quantity games," Post-Print halshs-02057890, HAL.
- Robert L. Earle & Karl Schmedders & Tymon Tatur, 2002. "Price Caps and Uncertain Demands," Discussion Papers 1340, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Lagerlof, Johan N.M., 2007.
"Insisting on a non-negative price: Oligopoly, uncertainty, welfare, and multiple equilibria,"
International Journal of Industrial Organization, Elsevier, vol. 25(4), pages 861-875, August.
- Johan Lagerlof, 2003. "Insisting on a Non-Negative Price: Oligopoly, Uncertainty, Welfare, and Multiple Equilibria," Industrial Organization 0304007, University Library of Munich, Germany.
- Johan Lagerlöf, 2003. "Insisting on a Non-Negative Price: Oligopoly, Uncertainty, Welfare, and Multiple Equilibria," CIG Working Papers SP II 2003-04, Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG).
- Johan Lagerlof, 2003. "Insisting on a Non-Negative Price: Oligopoly, Uncertainty, Welfare, and Multiple Equilibria," Microeconomics 0304006, University Library of Munich, Germany.
- Lagerlof, Johan, 2003. "Insisting on a Non-negative Price: Oligopoly, Uncertainty, Welfare and Multiple Equilibria," CEPR Discussion Papers 3901, C.E.P.R. Discussion Papers.
- Patrick Rey & Thibaud Vergé, 2010.
"Resale Price Maintenance And Interlocking Relationships,"
Journal of Industrial Economics, Wiley Blackwell, vol. 58(4), pages 928-961, December.
- Patrick REY & Thibaud VERGE, 2009. "Resale Price Maintenance and Interlocking Relationships," Working Papers 2009-11, Center for Research in Economics and Statistics.
- Fernando Bernstein & Awi Federgruen, 2005. "Decentralized Supply Chains with Competing Retailers Under Demand Uncertainty," Management Science, INFORMS, vol. 51(1), pages 18-29, January.
- Goltsman, Maria & Pavlov, Gregory, 2014.
"Communication in Cournot oligopoly,"
Journal of Economic Theory, Elsevier, vol. 153(C), pages 152-176.
- Maria Goltsman & Gregory Pavlov, 2012. "Communication in Cournot Oligopoly," University of Western Ontario, Departmental Research Report Series 20121, University of Western Ontario, Department of Economics.
- Mariana Cunha & Paula Sarmento & Hélder Vasconcelos, 2014. "Uncertain Efficiency Gains and Merger Policy," FEP Working Papers 527, Universidade do Porto, Faculdade de Economia do Porto.
- Dertwinkel-Kalt, Markus & Wey, Christian, 2021. "Multi-Product Pricing and Minimum Resale Price Maintenance," VfS Annual Conference 2021 (Virtual Conference): Climate Economics 242338, Verein für Socialpolitik / German Economic Association.
- Ayelet Israeli & Eric T. Anderson & Anne T. Coughlan, 2016. "Minimum Advertised Pricing: Patterns of Violation in Competitive Retail Markets," Marketing Science, INFORMS, vol. 35(4), pages 539-564, July.
- Liu, Yong & Qin, Fei & Fry, Michael J. & Raturi, Amitabh S., 2012. "Multi-period modeling of two-way price commitment under price-dependent demand," European Journal of Operational Research, Elsevier, vol. 221(3), pages 546-556.
- Amir Heiman, 2010. "The economics of demonstrations: The effect of competition on demonstration and pricing strategies," Marketing Letters, Springer, vol. 21(4), pages 351-363, December.
- Le Pape, Nicolas & Zhao, Kai, 2014.
"Horizontal mergers and uncertainty,"
Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 8, pages 1-31.
- Le Pape, Nicolas & Zhao, Kai, 2013. "Horizontal mergers and uncertainty," Economics Discussion Papers 2013-62, Kiel Institute for the World Economy (IfW Kiel).
- Nicolas Le Pape & Kai Zhao, 2014. "Horizontal Mergers and Uncertainty," Post-Print halshs-01016702, HAL.
- Cao, Wen & Jiang, Bo & Zhou, Deming, 2010. "The effects of demand uncertainty on channel structure," European Journal of Operational Research, Elsevier, vol. 207(3), pages 1471-1488, December.
More about this item
Keywords
Expected consumer’s surplus; Welfare; Uncertainty; Local cost-benefit analysis; D6; D8;All these keywords.
JEL classification:
- D8 - Microeconomics - - Information, Knowledge, and Uncertainty
- D6 - Microeconomics - - Welfare Economics
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:joecth:v:34:y:2008:i:1:p:127-155. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.