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On the measurement of benefits in an urban context: Some general equilibrium issues

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  • Courant, Paul N.
  • Rubinfeld, Daniel L.

Abstract

The validity of using local market data to measure the benefits associated with policies adopted in an urban area is investigated .It is shown that the rest of the world is affected by taxing decisions undertaken in a single urban area, so that local data cannot perfectly measure the welfare effects of a policy change. Specifically, the fact that the willingness to pay for a tax increase is positive in the rest of the world suggests that cost-benefit analyses which do not account for the rest of the world may be biased.
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  • Courant, Paul N. & Rubinfeld, Daniel L., 1978. "On the measurement of benefits in an urban context: Some general equilibrium issues," Journal of Urban Economics, Elsevier, vol. 5(3), pages 346-356, July.
    • Handle: RePEc:eee:juecon:v:5:y:1978:i:3:p:346-356
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    References listed on IDEAS

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    1. Harberger, Arnold C, 1971. "Three Basic Postulates for Applied Welfare Economics: An Interpretive Essay," Journal of Economic Literature, American Economic Association, vol. 9(3), pages 785-797, September.
    2. Krauss, Melvyn B, 1972. "Differential Tax Incidence: Large versus Small Tax Changes," Journal of Political Economy, University of Chicago Press, vol. 80(1), pages 193-197, Jan.-Feb..
    3. Polinsky, A. Mitchell & Rubinfeld, Daniel L., 1978. "The long-run effects of a residential property tax and local public services," Journal of Urban Economics, Elsevier, vol. 5(2), pages 241-262, April.
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