the purpose of this paper is to estimate the welfare cost of inflation in iran. we first use the long-horizon regression approach developed by fisher and seater (1993) to obtain an estimate of the inflation rate elasticity of money demand and then the baily’s consumer surplus approach to calculate the welfare cost function. the results show that reducing inflation rate from 40% to 0% increases ...

Whenever a recession occurs, there is a heated dialog among marketing academics and practitioners about the appropriate levels of marketing spending. In this article, the authors investigate whether firms should spend more on research and development (R&D) and advertising in recessions. They propose that the effects of changes in firms’ R&D and advertising spending in recessions on profits and ...

The valuation of changes in consumption of addictive goods resulting from policy interventions presents a challenge for cost-benefit analysts. Consumer surplus losses from reduced consumption of addictive goods that are measured relative to market demand schedules overestimate the social cost of cessation interventions. This article seeks to show that consumer surplus losses measured using a no...

The cost and complexity of commercially available devices for measuring whole-body vibration is a barrier to the systematic collection of the information required to manage this hazard at workplaces. The potential for a consumer electronic device to be used to estimate whole-body vibration was assessed by use of an accelerometer calibrator, and by collecting 42 simultaneous pairs of measurement...

Consumer reservation price is a key concept in marketing and economics. Theoretically, this concept has been instrumental in studying consumer purchase decisions, competitive pricing strategies, and welfare economics. Managerially, knowledge of consumer reservation prices is critical for implementing many pricing tactics such as bundling, target promotions, nonlinear pricing, and one-to-one pri...

This paper investigates the empirical relation between consumer and expert expectations about macroeconomic conditions in Germany. Using data from the EU Consumer Con…dence Survey and the ZEW business expectations, I estimate static models and error-correction models explaining consumer expectations as functions of expert expectations, consumer retrospections, and lagged consumer expectations. ...

Realistic estimates of chemical aggregate exposure are needed to ensure consumer safety. As exposure estimates are a critical part of the equation used to calculate acceptable "safe levels" and conduct quantitative risk assessments, methods are needed to produce realistic exposure estimations. To this end, a probabilistic aggregate exposure model was developed to estimate consumer exposure from...

-In this paper we provide an introduction to water quality benefit estimation for noneconomists. Net water quality benefits are typically measured using the concept of consumer surplus, which can be estimated using a number of economic valuation methodologies. These can be divided into direct and indirect methods. Direct methods involve questioning survey respondents to determine their consumer...