{"product_id":"shaking-up-measures-of-consumer-economic-well-being","title":"Shaking Up Measures Of Consumer Economic Well-being","description":"In this book the author analyzes measures of consumer well-being. The three main, neoclassical measures of well-being are the compensating variation, the equivalent variation, and consumer's surplus. The question is which of the measures of consumer well-being is the best. This book tackles the question, with a surprising outcome that is contrary to the main opinion in the literature. Prof ten Raa presents a test that measures must pass to track utility. The test will be used to sort measures in the remainder of the book. It will culminate in a variant of consumer's surplus, which he calls the consumer's index, and a generalization that applies to nonhomothetic demands. Variants of the consumer's index are presented, including ones that are applicable to demand functions with income effects, even nonlinear ones. So-called broad measures of consumer well-being, such as the Human Development Index, will be encompassed.","brand":"World Scientific Publishing Co Pte Ltd","offers":[{"title":"Default Title","offer_id":54262198501720,"sku":"9789811249785","price":67.99,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0278\/1295\/4195\/files\/9789811249785.jpg?v=1777598120","url":"https:\/\/agendabookshop.com\/products\/shaking-up-measures-of-consumer-economic-well-being","provider":"Agenda Bookshop","version":"1.0","type":"link"}