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Author : Keith Owen Fuglie
Publisher : International Potato Center
ISBN 13 :
Total Pages : 70 pages
Book Rating : 4./5 ( download)
Download or read book Measuring Welfare Benefits from Marketing Improvements written by Keith Owen Fuglie and published by International Potato Center. This book was released on 1993 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Marc Fleurbaey
Publisher : Oxford University Press
ISBN 13 : 0199346917
Total Pages : 395 pages
Book Rating : 4.1/5 (993 download)
Download or read book Beyond GDP written by Marc Fleurbaey and published by Oxford University Press. This book was released on 2013-04-11 with total page 395 pages. Available in PDF, EPUB and Kindle. Book excerpt: In spite of recurrent criticism and an impressive production of alternative indicators by scholars and NGOs, GDP remains the central indicator of countries' success. This book revisits the foundations of indicators of social welfare, and critically examines the four main alternatives to GDP that have been proposed: composite indicators, subjective well-being indexes, capabilities (the underlying philosophy of the Human Development Index), and equivalent incomes. Its provocative thesis is that the problem with GDP is not that it uses a monetary metric but that it focuses on a narrow set of aspects of individual lives. It is actually possible to build an alternative, more comprehensive, monetary indicator that takes income as its first benchmark and adds or subtracts corrections that represent the benefit or cost of non-market aspects of individual lives. Such a measure can respect the values and preferences of the people and give as much weight as they do to the non-market dimensions. A further provocative idea is that, in contrast, most of the currently available alternative indicators, including subjective well-being indexes, are not as respectful of people's values because, like GDP, they are too narrow and give specific weights to the various dimensions of life in a more uniform way, without taking account of the diversity of views on life in the population. The popular attraction that such alternative indicators derive from being non-monetary is therefore based on equivocation. Moreover, it is argued in this book that "greening" GDP and relative indicators is not the proper way to incorporate sustainability concerns. Sustainability involves predicting possible future paths, therefore different indicators than those assessing the current situation. While various indicators have been popular (adjusted net savings, ecological footprint), none of them involves the necessary forecasting effort that a proper evaluation of possible futures requires.
Author : Mr.Marshall B Reinsdorf
Publisher : International Monetary Fund
ISBN 13 : 1513544586
Total Pages : 49 pages
Book Rating : 4.5/5 (135 download)
Download or read book Measuring Economic Welfare: What and How? written by Mr.Marshall B Reinsdorf and published by International Monetary Fund. This book was released on 2020-05-18 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: Calls for a more people-focused approach to statistics on economic performance, and concerns about inequality, environmental impacts, and effects of digitalization have put welfare at the top of the measurement agenda. This paper argues that economic welfare is a narrower concept than well-being. The new focus implies a need to prioritize filling data gaps involving the economic welfare indicators of the System of National Accounts 2008 (SNA) and improving their quality, including the quality of the consumption price indexes. Development of distributional indicators of income, consumption, and wealth should also be a priority. Definitions and assumptions can have big effects on these indicators and should be documented. Concerns have also arisen over potentially overlooked welfare growth from the emergence of the digital economy. However, the concern that free online platforms are missing from nominal GDP is incorrect. Also, many of the welfare effects of digitalization require complementary indicators, either because they are conceptually outside the boundary of GDP or impossible to quantify without making uncertain assumptions.
Author : Zijian He
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (139 download)
Download or read book Measuring Welfare Gains from Online Stores written by Zijian He and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study how the rise of e-commerce has reshaped consumer welfare and its distributional implications in the presence of retail oligopoly. Based on new data on shopping receipts, we document consumer heterogeneity in online retailing markets: households living in rural areas and with higher incomes are more likely to shop online. To quantify the welfare effects, we leverage an exogenous tax shock by the Supreme Court's Wayfair Decision to learn about online store substitutability and firm pricing responses. We then develop and estimate a structural demand and supply model focussing on the pet food retail market. The model allows us to decompose the consumer online welfare gains into gains from varieties (9%) and convenience (5%) and gains from pro-competitive effects (3%). We further characterize the distributional effects of the rise of e-commerce and find it has reduced consumption inequality between rural and urban areas but increased consumption inequality between the rich and the poor.
Author : Matthew D. Adler
Publisher : Oxford University Press
ISBN 13 : 0190643048
Total Pages : 240 pages
Book Rating : 4.1/5 (96 download)
Download or read book Measuring Social Welfare written by Matthew D. Adler and published by Oxford University Press. This book was released on 2019-09-23 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: Disputes over government policies rage in a number of areas. From taxation to climate change, from public finance to risk regulation, and from health care to infrastructure planning, advocates debate how policies affect multiple dimensions of individual well-being, how these effects balance against each other, and how trade-offs between overall well-being and inequality should be resolved. How to measure and balance well-being gains and losses is a vexed issue. Matthew D. Adler advances the debate by introducing the social welfare function (SWF) framework and demonstrating how it can be used as a powerful tool for evaluating governmental policies. The framework originates in welfare economics and in philosophical scholarship regarding individual well-being, ethics, and distributive justice. It has three core components: a well-being measure, which translates each of the possible policy outcomes into an array of interpersonally comparable well-being numbers, quantifying how well off each person in the population would be in that outcome; a rule for ranking outcomes thus described ; and an uncertainty module, which orders policies understood as probability distributions over outcomes. The SWF framework is a significant improvement compared to cost-benefit analysis (CBA), which quantifies policy impacts in dollars, is thereby biased towards the rich, and is insensitive to the distribution of these monetized impacts. The SWF framework, by contrast, uses an unbiased measure of well-being and allows the policymaker to consider both efficiency (total well-being) and equity (the distribution of well-being). Because the SWF framework is a fully generic methodology for policy assessment, Adler also discusses how it can be implemented to inform government policies. He illustrates it through a detailed case study of risk regulation, contrasting the implications of results of SWF and CBA. This book provides an accessible, yet rigorous overview of the SWF approach that can inform policy-makers and students.
Author : Daisuke Nakamura
Publisher : Springer
ISBN 13 : 9789812878540
Total Pages : 220 pages
Book Rating : 4.8/5 (785 download)
Download or read book Attractiveness of Regions and Sustainable Regional Economic System written by Daisuke Nakamura and published by Springer. This book was released on 2020-10-11 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: The primary objective of this book is to address a formal representation of household economy in welfare economics in spatial terms. Although it has been argued since the nineteenth century that in exploring a reasonable indicator to measure the real welfare level of households, several difficulties remain to be faced in economic theory. The most relevant method in this specific topic is social welfare function. While various types of indicators were historically developed and improved as a replacement of existing economic growth indicators such as GDP and GRP using social welfare function, there still is a problem with evaluating the individual’s utility as an aggregate term. As an alternative method of measuring the real welfare level of households, location theory may be a possibility for solving some potentially problematic issues. To be precise, location theory requires the inclusion of notions of transportation costs, spatially constrained internal and external economies, and other distance-related variables. From the standpoint of equality, this specific approach enables an analysis to investigate spatial differentiation. In other words, spatial differentiation of households can be interpreted as spatial consumer exclusion. Hence, the real welfare level of households can be measured by means of the accessibility of goods and services, of which there are several types, such as essential and luxury ones. As a result, spatial distribution of goods and services depending on their types can be considered a component of social welfare function. The topics addressed in the book include social welfare function in spatial terms, location theory related to firms and households, attractiveness of regions, economic and social infrastructure elements, and sustainable growth and development of regions.
Author : Gregory J. Scott
Publisher : Lynne Rienner Publishers
ISBN 13 : 9781555876098
Total Pages : 524 pages
Book Rating : 4.8/5 (76 download)
Download or read book Prices, Products, and People written by Gregory J. Scott and published by Lynne Rienner Publishers. This book was released on 1995 with total page 524 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors go beyond the traditional presentation of economic principles, offering instead a series of applied methods for data collection and analysis. Drawing on extensive experience in Africa, Asia, and Latin America, they not only describe specific procedures, but also provide a wealth of illustrative research results. This book will be particularly useful to teaching professionals, development specialists, and applied researchers working in developing countries.
Author : Wagner A. Kamakura
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Measuring Market Efficiency and Welfare Loss written by Wagner A. Kamakura and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study presents a general methodology capable of addressing a number of fundamental questions in consumer policy. Are consumers paying more than the minimum price for a given bundle of attributes? If so, what brands cost more than the consumer needs to pay? What would be the degree of improvement in the consumer's well being if some intervention sets the price of such inefficient brands at the efficient level? We apply the methodology to data on automobiles and several other goods and analyze the determinants of efficiency.
Author : Jiandong Ju
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book The Measurement of Welfare written by Jiandong Ju and published by . This book was released on 2000 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Harberger (1971) proposes that the consumer surplus should be used to measure the individual utility and the social welfare. "Since Harberger's paper, the limitation and pitfall of consumer's surplus have been demonstrated systematically and definitively by Chipman and Moore among many others" [Slesnick (1998), p. 2159]. As pointed out by Chipman and Moore (1976, p. 70), "consumer's surplus is not intended to measure a consumer's utility at all; but what is supposed to measure we are not told". Despite the serious conceptual problems, however, "consumer's surplus is the overwhelming choice as a welfare indicator" [Slesnick (1998), p. 2110]. "It is easy to use, the intuition underlying its interpretation as a welfare measure is transparent, and the data requirements for implementation are minimal" [Slesnick (1998), p. 2159]. Using aggregate data to directly measure aggregate behavior, an "aggregate to aggregate" approach is developed in this paper to measure welfare in a world of many goods with many consumers. The purpose of this paper is to show that there exist some welfare functions such that the change in welfare resulting from changes of prices is equal to the sum of the Marshallian surplus of aggregate demands, the surplus of aggregate supplies, and the changes in government revenue. Therefore, a theoretical ground is built for using Marshallian consumer surplus as a welfare indicator. It is well known that Marshallian consumer surplus does not measure the consumer's utility in the case of a single consumer. How can the Marshallian surplus be an indicator for social welfare? The consumer's utility maximization problem gives that marginal utility equals market price times the marginal utility of income (MUI). The market price would measure the marginal utility if the MUI were constant. Unfortunately, the constancy of MUI has proved to be impossible [Samuelson (1942)]. Therefore, the Marshallian surplus does not measure the individual utility. However, It is also well known that the market price measures the marginal social value of a good. As pointed out in Varian's textbook [Varian (1992), p. 334], "we see that the competitive prices measure the (marginal) social value of a good: how much welfare would increase if we had a small additional amount of the good." Therefore, it is intuitive that Marshallian consumer surplus could measure welfare, at least in the case of one good. In the case of many goods, the problem preventing consumer surplus to be a good welfare indicator is known as the path dependency problem. To solve this problem, we decompose the change in welfare into two parts. The first part is the change in welfare due to income change, maintaining prices constant, which is shown to be path independent and equal to the sum of the surplus of aggregate supplies and the change in government revenue. The second part is the change in welfare due to price changes, maintaining income constant, which is shown to be path independent and equal to the Marshallian consumer surplus of aggregate demands.
Author : Sharan Jagpal
Publisher : Oxford University Press
ISBN 13 : 0199888124
Total Pages : 676 pages
Book Rating : 4.1/5 (998 download)
Download or read book Fusion for Profit written by Sharan Jagpal and published by Oxford University Press. This book was released on 2008-09-26 with total page 676 pages. Available in PDF, EPUB and Kindle. Book excerpt: The corporate world is typically structured in silos. Managers urgently need to overcome this "silo" effect by fusing ideas across different functional areas in the firm. In Fusion for Profit, Sharan Jagpal, a well-known and highly respected multidisciplinary researcher and business consultant, explains in simple language using real-world examples how managers can use sophisticated concepts to fuse different functional areas in the firm, especially marketing and finance, to increase the firm's value. The author provides novel solutions to a wide range of complex business problems ranging from choosing pricing and bundling strategies, to positioning and messaging strategies, to measuring brand equity, to measuring advertising productivity in a mixed media plan including Internet advertising, to compensating a multiproduct sales force, to measuring the potential gains and risks from mergers and acquisitions. These concepts are illustrated using case studies from a variety of firms in different industries, including AT&T, Coca-Cola, Continental Airlines, General Electric, Home Depot, Southwest Airlines, and Verizon.
Author : Luc Valentin
Publisher :
ISBN 13 : 9781109971101
Total Pages : 116 pages
Book Rating : 4.9/5 (711 download)
Download or read book Welfare Impacts of GMO Adoption Along the Marketing Chain written by Luc Valentin and published by . This book was released on 2007 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study finds that, from 2002 to 2005, even if the European consumer completely stopped purchasing soybean, the U.S. as a whole would still benefit from the technology. For the earlier period 1998-2005, the study finds that if Europe had decreased its demand from 35% to 48%, there would have been a possibility for the U.S. as a whole to have been made worse off by the technology.
Author : Caroline L. Dinwiddy
Publisher : Cambridge University Press
ISBN 13 : 9780521473583
Total Pages : 316 pages
Book Rating : 4.4/5 (735 download)
Download or read book Principles of Cost-Benefit Analysis for Developing Countries written by Caroline L. Dinwiddy and published by Cambridge University Press. This book was released on 1996-01-26 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book presents the theory of cost-benefit analysis and applies this theory to contemporary problems of development economics. It is distinctive in that it combines an introduction to welfare economics and project appraisal with a discussion of current issues in development economics such as structural adjustment policies, commodity stabilization programs and environmental issues. The book assumes a basic economic understanding and should be a useful text and also of interest to public policy administrators.
Author : A. Myrick Freeman III
Publisher : Routledge
ISBN 13 : 1317703936
Total Pages : 479 pages
Book Rating : 4.3/5 (177 download)
Download or read book The Measurement of Environmental and Resource Values written by A. Myrick Freeman III and published by Routledge. This book was released on 2014-06-05 with total page 479 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first edition of this important work was the winner of the 2002 Publication of Enduring Quality award by the Association of Environmental and Resource Economists. The continuing premise for the book is that estimates of the economic values of environmental and natural resource services are essential for effective policy-making. As previous editions, the third edition, which includes two additional co-authors, presents a comprehensive treatment of the theory and methods involved in estimating environmental benefits. Researchers, policy-makers, and practitioners will welcome the work as an up-to-date reference on recent developments. Students will gain a better understanding of the contribution that economics as a discipline can make to decisions concerning pollution control and human health, recreation, environmental amenities, and other critical issues concerning the way we use and interact with environmental and natural resource systems. To reflect recent progress in both the theory and practice of non-market valuation, the third edition includes more details on empirical approaches to measurement, expanded discussion of the reasons for divergence between "willingness to pay" and "willingness to accept compensation," and increased coverage of econometric issues encountered in estimation. In keeping with its cutting edge orientation, it also includes more discussion of survey design, equilibrium sorting models, and the implications of behavioral economics for welfare measurements and benefit cost analysis.
Author : Rüdiger Pethig
Publisher : Springer Science & Business Media
ISBN 13 : 940158317X
Total Pages : 359 pages
Book Rating : 4.4/5 (15 download)
Download or read book Valuing the Environment: Methodological and Measurement Issues written by Rüdiger Pethig and published by Springer Science & Business Media. This book was released on 2013-03-14 with total page 359 pages. Available in PDF, EPUB and Kindle. Book excerpt: During the last decades, environmental economics as a science has been very successful in improving our understanding of environment-economy interdepen dence. Using conventional economic methodology, environmental aspects have been explicitly incorporated into economic models making use of the concept of externality. This concept was already familiar to economists long before evidence of severe environmental deterioration found its way into the headlines and peo ple's awareness. But before that time, external effects were not considered as being empirically very relevant, they seemed to be -like the example of the bees and the fruit trees - somewhat bucolic in nature. All that changed dramatically when it was no longer possible (or easy) to ignore the large-scale environmental disruption with its negative feedback on consumers and producers caused by growing pollution and excessive use of environmental resources. In diagnosing the discrepancy between private and social cost as the cause of the problem, the externality paradigm proved very useful. The correct diagnosis implies the straightforward cure to internalise all external cost, namely the damage cost of pollution. But it is one thing to identify the qualitative nature of the problem at an abstract conceptual level and quite another thing to place specific money values on pollution damage and society's valuation of the environment, respectively, in the context of specific pollution (control) problems. Very often it is controversial not only how inefficient the no-policy situation is but also what exactly the net benefit of any public action of reducing pollution is.
Author : V. Kerry Smith
Publisher : Springer Science & Business Media
ISBN 13 : 9400942230
Total Pages : 336 pages
Book Rating : 4.4/5 (9 download)
Download or read book Measuring Water Quality Benefits written by V. Kerry Smith and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: Almost 5 years ago we began working together on research for the U.S. Environmental Protec tion Agency (EPA) to measure the benefits of water quality regulations. EPA had awarded a contract to Research Triangle Inst~ute (RTIl in response to a proposal that Bill wrote on measuring these benefits. After meeting with the EPA project officer, Dr Ann Fisher, the basic outlines of what would become this research were framed. Upon the suggestion of Bob Anderson, then chief of the Benefits Branch at EPA, we selected the Monongahela River as the focal point of a case study that would compare alternative benefit measurement approaches. Exactly how this case study would be done remained vague, but Ann urged that there be a survey and that nonuse benefits be included in the question naire design. Of course, Bill agreed. At the same time, Kerry was independently working on a review article that tied together some of the loose threads in the option value literature. He had also been thinking about how to measure option value, as well as working on ways to generalize the travel cost approach for estimating benefits of site attributes. Glenn Morris at RTI suggested that Bill have lunch with him and Kerry and that they could talk about Bill's research to see if there were any mutual interest. Over the lunch and Bill's ever present dessert in a Chapel Hill restaurant, we found out just how much we have in common.
Author : David Banister
Publisher : Routledge
ISBN 13 : 113580270X
Total Pages : 404 pages
Book Rating : 4.1/5 (358 download)
Download or read book Transport Investment and Economic Development written by David Banister and published by Routledge. This book was released on 2003-08-29 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: A major concern of all decision makers has been to ensure that there are clear benefits from transport investment proposals. The travel time savings are clear, but the wider economic developments have presented enormous difficulty in terms of both theoretical arguments and empirical evidence. This book reviews the history of the debate and argues that the agenda has changed. These issues are presented together with a major analytical investigation of macroeconomic models, evaluation in transport and microeconomic approaches. The final part of the book presents a series of case studies for road, rail and airport investment schemes, particularly focusing on the economic development aspects.
Author : Philippe Auffret
Publisher :
ISBN 13 :
Total Pages : 23 pages
Book Rating : 4.:/5 (129 download)
Download or read book An Alternative Unifying Measure of Welfare Gains from Risk-Sharing written by Philippe Auffret and published by . This book was released on 2016 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: Unlike the traditional measure of welfare gains from risk-sharing, the new measure presented here does not depend on the horizon, and it is robust to alternative specifications of the consumption stochastic processes and preferences. This measure shows that if international risk-sharing eliminates volatility in aggregate consumption and leads to greater consumption growth, risk-sharing can have a sizable impact on consumer welfare.Following Lucas's (1987) standard approach, welfare gains from international risk-sharing have been measured as the percentage increase in consumption levels that leaves individuals indifferent between autarky and risk-sharing. Auffret proposes to measure welfare gains as the increase in consumption growth instead of consumption levels. When the consumption process is nonstationary, Auffret's proposed measure has several attractive features: it does not depend on the horizon, and it is robust to alternative specifications of the consumption stochastic processes (from geometric Brownian processes to Orstein-Ulhenbeck mean-reverting processes) and preferences (from constant relative risk aversion preferences to Kreps-Porteus preferences). The author then uses this measure to estimate potential welfare gains from international risk-sharing for a representative U.S. consumer.Auffret finds that if international risk-sharing leads only to a complete elimination of aggregate consumption volatility (with no impact on consumption growth), it represents gains to a U.S. consumer of only $12 a year on average. But if international risk-sharing also permits an increase in consumption growth, it may have a sizable impact on welfare. Each 0.5 percentage point increase in consumption growth represents gains to a U.S. consumer of about $160 a year on average.This paper - a product of the Economic Policy Sector Unit, Latin America and the Caribbean Region - is part of a larger effort in the region to analyze the impact of catastrophic risks on welfare and determine whether the catastrophic insurance function can serve a key developmental role in disaster prone countries. The author may be contacted at [email protected].
