Access

You are not currently logged in.

Access JSTOR through your library or other institution:

login

Log in through your institution.

Journal Article

The relationship between individual and household measures of WTP and WTA

Udo Ebert
Social Choice and Welfare
Vol. 40, No. 2 (February 2013), pp. 367-390
Published by: Springer
Stable URL: http://www.jstor.org/stable/23360959
Page Count: 24
Were these topics helpful?
See something inaccurate? Let us know!

Select the topics that are inaccurate.

Cancel
  • Download ($43.95)
  • Add to My Lists
  • Cite this Item
Preview not available
Preview not available

Abstract

The article defines measures of individual and household willingness to pay (and to accept) in a general and flexible framework. It completely clarifies the relationship between the household measures and the sum of the individual welfare measures (the aggregate measures) which are in general different. The aggregate measures form only an upper bound for the corresponding household measures. The bounds (based on the information about individual measures) can be tightened by introducing additional assumptions about the decision process within the household. The results derived prove helpful for the theoretical analysis of household behavior, for the evaluation of nonmarket goods in environmental and public economics and for contingent valuation.

Page Thumbnails

  • Thumbnail: Page 
[367]
    [367]
  • Thumbnail: Page 
368
    368
  • Thumbnail: Page 
369
    369
  • Thumbnail: Page 
370
    370
  • Thumbnail: Page 
371
    371
  • Thumbnail: Page 
372
    372
  • Thumbnail: Page 
373
    373
  • Thumbnail: Page 
374
    374
  • Thumbnail: Page 
375
    375
  • Thumbnail: Page 
376
    376
  • Thumbnail: Page 
377
    377
  • Thumbnail: Page 
378
    378
  • Thumbnail: Page 
379
    379
  • Thumbnail: Page 
380
    380
  • Thumbnail: Page 
381
    381
  • Thumbnail: Page 
382
    382
  • Thumbnail: Page 
383
    383
  • Thumbnail: Page 
384
    384
  • Thumbnail: Page 
385
    385
  • Thumbnail: Page 
386
    386
  • Thumbnail: Page 
387
    387
  • Thumbnail: Page 
388
    388
  • Thumbnail: Page 
389
    389
  • Thumbnail: Page 
390
    390
Part of Sustainability