Notes on Economic Welfare [Preliminary and Incomplete Draft]
نویسنده
چکیده
2 Naive Surplus Theory 2.1 Consumers who buy 0 or 1 unit I introduce the concept of surplus in one of the simplest models of demand. [This is the model underlying (Bakos and Brynjolfsson, 1999).] Consider a very large population of K consumers facing a market for a single good. Each consumer will buy either one or zero units of this good (per period), depending on the price. Each consumer has a willingness-to-pay (WTP), or reservation price for one unit, and will buy one unit if and only if his or her WTP exceeds the price. Let FK denote the cumulative distribution function (cdf) of the WTP in the population, i.e.,
منابع مشابه
OIE guidelines on dog population control.
At the 73rd General Session the OIE decided to develop guidance for Members on humane methods for the control of stray animal populations. In 2006, an ad hoc Group was convened under the leadership of the OIE Permanent Animal Welfare Working Group. With valuable assistance from the OIE Collaborating Centre on Animal Welfare, a Questionnaire was developed and sent to OIE Members, of which 81 cou...
متن کاملEnvy and Altruism in Hard Times1
The politics of economic crises bring distributive economic conict to the fore of national political debates. How economic activity is to be regulated and how policy should be used to transfer resources between citizens become central political questions and the answers chosen often inuence the trajectory of policy for a generation or at least until the next crisis. This paper investigates ho...
متن کاملAre Recessions Good for Young People
We construct a stochastic overlapping generations model in which households of di¤erent ages are subject to aggregate shocks that a¤ect both wages and asset prices. We use a realistically calibrated version of the model to assess the distributional consequences of severe recessions. More speci cally, within the context of this model we ask whether young people can be better o¤ if they become ec...
متن کاملWage risk and employment risk over the life cycle
We define the distinction between productivity and employment risk and estimate the components of risk using wage and mobility data from the Panel Study of Income Dynamics. We then calibrate a model of intertemporal consumption and labor supply and study the effect of the two sources of risk on precautionary saving and labor supply. Finally, we measure the relative welfare costs of employment a...
متن کاملFourier Coefficients of Modular Forms
These notes describe some conjectures and results related to the distribution of Fourier coefficients of modular forms. This is a rough draft and these notes should forever be considered incomplete.
متن کامل