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Consumer's Surplus Revisited

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  • J. S. Shonkwiler

Abstract

A technique for approximating welfare measures using knowledge of the Marshallian demand relation is developed and compared numerically to the true measures and other approximations. The technique does not rely on the solution of differential equations and is easily illustrated graphically. The technique should be useful as a pedagogic device and applicable in empirical work when derivation of the indirect utility function is burdensome.

Suggested Citation

  • J. S. Shonkwiler, 1991. "Consumer's Surplus Revisited," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 73(2), pages 410-414.
    • Handle: RePEc:oup:ajagec:v:73:y:1991:i:2:p:410-414.
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    File URL: http://hdl.handle.net/10.2307/1242724
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    Cited by:

    1. Hayley H. Chouinard & David E. Davis & Jeffrey T. LaFrance & Jeffrey M. Perloff, 2010. "Milk Marketing Order Winners and Losers," Applied Economic Perspectives and Policy, Agricultural and Applied Economics Association, vol. 32(1), pages 59-76.
    2. Zhao, Xueyan & Mullen, John D. & Griffith, Garry R., 2005. "Economic Surplus Measurement in Multi-Market Models," Working Papers 12910, University of New England, School of Economics.
    3. Zhao, Xueyan & Mullen, John D. & Griffith, Garry R. & Griffiths, William E. & Piggott, Roley R., 2000. "An Equilibrium Displacement Model of the Australian Beef Industry," Research Reports 28007, New South Wales Department of Primary Industries Research Economists.
    4. Huang, Kuo S. & Blayney, Donald P., 2003. "How Dairy Price Changes Influence The Consumers' Welfare," 2003 Annual meeting, July 27-30, Montreal, Canada 22031, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    5. Huang, Kuo S. & Hahn, William F., 1995. "U.S. Quarterly Demand for Meats," Technical Bulletins 156769, United States Department of Agriculture, Economic Research Service.

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