Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/64738 
Erscheinungsjahr: 
2010
Schriftenreihe/Nr.: 
cemmap working paper No. CWP01/11
Verlag: 
Centre for Microdata Methods and Practice (cemmap), London
Zusammenfassung: 
This paper proposes a framework to model empirically welfare effects that are associated with a price change in a population of heterogeneous consumers. Individual demands are characterized by a nonseparable model which is nonparametric in the regressors, as well as monotonic in unobserved heterogeneity. In this setup, we first provide and discuss conditions under which the heterogeneous welfare effects are identified, and establish constructive identification. We then propose a sample counterpart estimator, and analyze its large sample properties. For both identification and estimation, we distinguish between the cases when regressors are exogenous and when they are endogenous. Finally, we apply all concepts to measuring the heterogeneous effect of a chance of gasoline price using US consumer data and find very substantial differences in individual effects.
Schlagwörter: 
Welfare
Consumer Surplus
Price Effect
Nonseparable Model
Nonparametric
Quantile
Endogeneity
Compensating Variation
Persistent Identifier der Erstveröffentlichung: 
Dokumentart: 
Working Paper

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