IDEAS home Printed from https://ideas.repec.org/a/oup/ecinqu/v30y1992i4p562-82.html
   My bibliography  Save this article

Exact and Superlative Welfare Change Indicators

Author

Listed:
  • Diewert, W E

Abstract

An exact welfare change indicator is defined to be a known function of the price and quantity data for two periods (for a utility maximizing consumer) which is exactly equal to the Hicksian equivalent variation. A welfare change indicator is termed superlative if it is exactly equal to the equivalent variation for an expenditure function that has a second-order approximation property. The paper exhibits a number of superlative welfare change indicators, and also reviews the earlier attempts of J. R. Hicks and M. L. Weitzman to obtain equivalent variation measures that had a second-order approximation property. Copyright 1992 by Oxford University Press.

Suggested Citation

  • Diewert, W E, 1992. "Exact and Superlative Welfare Change Indicators," Economic Inquiry, Western Economic Association International, vol. 30(4), pages 562-582, October.
    • Handle: RePEc:oup:ecinqu:v:30:y:1992:i:4:p:562-82
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Barnett, William A. & Erwin Diewert, W. & Zellner, Arnold, 2011. "Introduction to measurement with theory," Journal of Econometrics, Elsevier, vol. 161(1), pages 1-5, March.
    2. Claude Hillinger, 2001. "Money Metric, Consumer Surplus and Welfare Measurement," German Economic Review, Verein für Socialpolitik, vol. 2(2), pages 177-193, May.
    3. Claude Hillinger, 2002. "A General Theory of Price and Quantity Aggregation and Welfare Measurement," CESifo Working Paper Series 818, CESifo.
    4. Smith, V. Kerry & Van Houtven, George & Pattanayak, Subhrendu, 1999. "Benefit Transfer as Preference Calibration," RFF Working Paper Series dp-99-36, Resources for the Future.
    5. Lilyan Fulginiti & Richard Perrin, 2005. "Productivity and Welfare," Journal of Productivity Analysis, Springer, vol. 24(2), pages 133-155, October.
    6. DECANCQ, Koen & FLEURBAEY, Marc & SCHOKKAERT, Erik, 2014. "Inequality, income, and well-being," LIDAM Discussion Papers CORE 2014018, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    7. Richard Batley & Thijs Dekker, 2019. "The Intuition Behind Income Effects of Price Changes in Discrete Choice Models, and a Simple Method for Measuring the Compensating Variation," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 74(1), pages 337-366, September.
    8. Smed, Sinne & Jensen, Jorgen Dejgaard & Denver, Sigrid, 2005. "Differentiated Food Taxes as a Tool in Health and Nutrition Policy," 2005 International Congress, August 23-27, 2005, Copenhagen, Denmark 24579, European Association of Agricultural Economists.
    9. Perrin, Richard K. & Fulginiti, Lilyan E., 1998. "Technological Change And Welfare In An Economy With Distortions," 1998 Annual meeting, August 2-5, Salt Lake City, UT 21013, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    10. Hideyuki Mizobuchi & Valentin Zelenyuk, 2023. "A generalized flexible functional form for α-returns to scale," Journal of Productivity Analysis, Springer, vol. 59(3), pages 217-224, June.
    11. Barnett, William A. & Choi, Ki-Hong, 2008. "Operational identification of the complete class of superlative index numbers: An application of Galois theory," Journal of Mathematical Economics, Elsevier, vol. 44(7-8), pages 603-612, July.
    12. Tiboldo, Giulia & Boehm, Rebecca & Shah, Farhed & Moro, Daniele & Castellari, Elena, 2022. "Taxing the heat out of the U.S. food system," Food Policy, Elsevier, vol. 110(C).
    13. Smith, V. Kerry & Houtven, George Van & Pattanayak, Subhrendu, 1999. "Improving the Practice of Benefit Transfer: A Preference Calibration Approach," Western Region Archives 321702, Western Region - Western Extension Directors Association (WEDA).
    14. W. Erwin Diewert, 1995. "Price and Volume Measures in the System of National Accounts," NBER Working Papers 5103, National Bureau of Economic Research, Inc.
    15. Edjabou, Louise Dyhr & Smed, Sinne, 2013. "The effect of using consumption taxes on foods to promote climate friendly diets – The case of Denmark," Food Policy, Elsevier, vol. 39(C), pages 84-96.
    16. Hillinger, Claude, 2008. "Measuring Real Value and Inflation," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 2, pages 1-26.
    17. Tiboldo, Giulia & Boehm, Rebecca L. & Castellari, Elena & Shah, Farhed A., 2017. "Use of a Carbon Tax on Food Purchases to Reduce Greenhouse Gas Emissions in the U.S," 2017 Annual Meeting, July 30-August 1, Chicago, Illinois 258275, Agricultural and Applied Economics Association.
    18. Tiboldo, G. & Castellari, E. & Moro, D., 2024. "The distributional implications of health taxes: A case study on the Italian sugar tax," Food Policy, Elsevier, vol. 126(C).
    19. Robert J. Hill & Alice O. Nakamura, 2010. "Improving Inflation And Related Performance Measures For Nations: An Introduction," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 56(s1), pages 1-10, June.
    20. Lee, Young-Jae & Kennedy, P. Lynn, 2009. "Effects of Price and Quality Differences in Source Differentiated Beef on Market Demand," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 41(1), pages 1-12, April.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    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:oup:ecinqu:v:30:y:1992:i:4:p:562-82. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: Oxford University Press (email available below). General contact details of provider: https://edirc.repec.org/data/weaaaea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.